Floyd Appraisal Works IncFloyd Appraisal Works Inc is TN state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisal reports for property loans backed by them. A certain amount of the periodic training our staff at Floyd Appraisal Works Inc undergoes deals strictly with comprehending the FHA's documentation and their rules and procedures. If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. If your loan is FHA approved, that means that it has been secured by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending organizations with safety with mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and requirements for lending organizations that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lesser income or less starting funds to use as a down-payment on a financial transaction benefit the most from FHA loan programs. |