Need an appraisal for an FHA-backed mortgage? Call Harris AppraisalThe FHA publishes a list of approved appraisers for each state - Harris Appraisal is on the roster of approved appraisers for TN. This indicates that we are qualified and approved by the FHA to do appraisal reports for house loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is insured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is make sure that the mortgage is insured in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers 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. Down payments are often lower with an FHA loan despite using conventional market rates. Those with lower income or less starting capital to use as a down-payment on a financial transaction benefit the most from Federal Housing Administration loan programs. |