Bay Cities AppraisalsBay Cities Appraisals is CA state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do reports for FHA secured loans. A portion of the regular training our staff at Bay Cities Appraisals receives deals exclusively with understanding the FHA's documentation and their rules and procedures. If you need an report for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending company 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. The FHA and their loan programs are designed to benefit low-to-moderate income homebuyers help meet credit qualifications 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. Consumers with lesser income or less starting capital to use as a down-payment on a mortgage benefit the most from Federal Housing Administration loan programs. |