Need an appraisal for an FHA-backed mortgage? Call SJC AppraisalsSJC Appraisals is NM state certified and on the FHA Roster of approved residential appraisers. SJC Appraisals is qualified and approved to do appraisals for FHA secured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact SJC Appraisals if you need an appraisal done for an FHA-secured loan. 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 insured by them. The lender takes care of all the finances; the FHA simply backs the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and qualifications 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. Buyers with lesser income or less starting funds to put down on a loan are helped the most from Federal Housing Administration loan programs. |