Kim Phillips Appraisals is ready for your FHA backed loansKim Phillips Appraisals is VA state certified and on the FHA Roster of approved residential appraisers. This indicates that we are certified and approved by the FHA to do appraisals for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Kim Phillips Appraisals is well-trained on how to comply with the rules and regulations provided. Contact us today if you need to get an appraisal done on an FHA-insured loan. An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the money in the loan; the FHA simply secures the loan through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and necessities for lending organizations that they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Those with lower income or less starting capital to use as a down-payment on a loan benefit the most from Federal Housing Administration loan programs. |