Lancia Appraisal is ready for your FHA backed loansThe FHA retains of approved appraisers for each state - Lancia Appraisal is on the roster of approved appraisers for RI. This indicates that we are certified and approved by the FHA to do reports for house loans insured by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Lancia Appraisal is well-trained on how to comply with the rules and regulations provided. If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is underwritten by the Federal Housing Administration, a federal organization 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 lenders with safety by offering mortgage insurance in case the borrower does not pay his or her financial obligations. The FHA and their loan programs are created to help low-to-moderate income purchasers help meet credit requirements 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. Purchasers with lower income or less starting funds to use as a down-payment on a loan benefit the most from Federal Housing Administration loan programs. |