Need an appraisal for an FHA-backed mortgage? Call Fearrand AppraisalThe FHA publishes a list of approved appraisers for each state - Fearrand Appraisal is on the roster of approved appraisers for HI. This means that we are qualified and approved by the FHA to do reports for house loans insured by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Fearrand Appraisal is well-trained on how to follow the rules and regulations provided. If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is backed by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lender provides all the money in the loan; the FHA simply insures the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-backed financial transaction; the point of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and requirements for lending organizations that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Those with lesser income or less starting funds to use as a down-payment on a loan benefit the most from FHA loan programs. |