Need an appraisal for an FHA-backed mortgage? Call Stephen McELyeaThe FHA maintains of approved appraisers for each state - Stephen McELyea is on the roster of approved appraisers for CA. We're qualified and approved to do appraisal reports for FHA insured loans. A certain amount of the regular training our staff at Stephen McELyea undergoes deals strictly with decoding 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. An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with security through mortgage insurance in case the borrower defaults on his or her loan obligations. Accessible to all purchasers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lesser income or less starting money to put down on a financial transaction benefit the most from FHA loan programs. |