Need an appraisal for an FHA-backed mortgage? Call Charles Davis Appraisals

The FHA maintains of approved appraisers for each state - Charles Davis Appraisals is on the roster of approved appraisers for AL. This indicates that we are certified and approved by the FHA to do reports for property loans backed by them. A portion of the periodic training our staff at Charles Davis Appraisals completes deals strictly with decoding the FHA's documentation and their rules and procedures.

An FHA loan is secured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending organizations with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and qualifications for lenders that they otherwise would not.

Down payments are often lower with an FHA loan despite using conventional market rates. Purchasers with lower income or less starting funds to put down on a mortgage benefit the most from Federal Housing Administration loan programs.