Need an appraisal for an FHA-backed mortgage? Call Frank LovascoWe are happy to say that Frank Lovasco is an FHA-certified appraisal practice in MI. We are qualified and approved to do appraisal reports for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Frank Lovasco if you need an appraisal done for an FHA-secured loan. An FHA loan is backed by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA; what the FHA does is make sure that the mortgage is secure in case the borrower doesn't pay their loan. The FHA and their loan programs are created to aid low-to-moderate income buyers help meet credit expectations if 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. The loan programs that the FHA provides are exceedingly helpful to purchasers with less starting capital. |