Need an appraisal for an FHA-backed mortgage? Call BK Appraisal ServicesBK Appraisal Services is VA state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-loan, be sure to hire BK Appraisal Services, as we are approved and certified to handle FHA reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact BK Appraisal Services 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 underwritten by them. The FHA does not loan funds to borrowers, rather, it provides lending agencies with protection with mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and qualifications for lending organizations that they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lesser income or less starting capital to use as a down-payment on a mortgage are assisted the most from FHA loan programs. |