Gorham Property Appraisal is your FHA certified appraisal companyRest assured that Gorham Property Appraisal is an FHA-certified appraisal company in AZ. This means that we are certified and approved by the FHA to do appraisals for home loans insured by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Gorham Property Appraisal is well-trained on how to work in accordance with the rules and regulations provided. If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away. The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA loan, it means it is insured by them. The lender provides all the loaned money; the FHA simply backs the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured 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. FHA loan programs are extremely beneficial to those buyers with less available cash. |