McRae Appraisals LLC is available for your FHA loansMcRae Appraisals LLC is IA state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do reports for house loans backed by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at McRae Appraisals LLC is well-trained on how to work in accordance with the rules and regulations provided. Be sure to contact McRae Appraisals LLC if you need an appraisal done for an FHA-secured loan. 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 FHA does not provide funds to borrowers, rather, it provides lenders with safety through mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and requirements for lenders that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are particularly useful to those buyers with less available cash. |