Need an appraisal for an FHA-backed mortgage? Call Bruce WallaceBruce Wallace is FL state certified and on the FHA Roster of approved residential appraisers. Bruce Wallace is qualified and approved to do appraisals for FHA secured financial transactions. Part of the periodic training our staff at Bruce Wallace receives deals exclusively with understanding the FHA's documentation and their rules and procedures. Contact us today if you need to get an appraisal done on an FHA-insured loan. If your property loan is FHA approved, that means that it has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The lending company takes care of all the finances; the FHA simply insures the transaction with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and necessities for lending agencies 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. FHA loan programs are incredibly helpful to those buyers with less accessible cash. |