Need an appraisal for an FHA-backed mortgage? Call Phillips ResidentialRest assured that Phillips Residential is an FHA-approved appraisal practice in TX. Phillips Residential is qualified and approved to do appraisal reports for FHA insured financial transactions. Part of the continuing training our staff at Phillips Residential completes deals strictly with understanding the FHA's documentation and their rules and procedures. If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. If your home loan is FHA certified, that means that it has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is secure in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and necessities for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are extremely beneficial to consumers with less starting income. |