Need an appraisal for an FHA-backed mortgage? Call My Elite AppraisalsMy Elite Appraisals is TX state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-secured mortgage, be sure to get with My Elite Appraisals, as we are approved and qualified to produce FHA appraisals. A portion of the ongoing training our staff at My Elite Appraisals completes deals exclusively with decoding the FHA's documentation and their rules and procedures. If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is secured by them. The FHA does not provide funds to borrowers, rather, it provides lenders with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations. Available to all homebuyers, FHA loan programs are designed to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lower income or less starting capital to use as a down-payment on a financial transaction benefit the most from FHA loan programs. |