Payne AppraisalsWe assure you that Payne Appraisals is an FHA-approved appraisal practice in FL. We're qualified and approved to do appraisal reports for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Contact us today if you need to get an appraisal done on an FHA-insured loan. An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lending agencies with protection with mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to assist low-to-moderate income homebuyers help meet credit requirements if they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lesser income or less starting capital to put down on a mortgage are assisted the most from FHA loan programs. |