Coastal Appraisal Co. can do FHA mortgagesCoastal Appraisal Co. is ME state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do reports for FHA secured loans. A certain amount of the periodic training our staff at Coastal Appraisal Co. completes deals strictly with understanding 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. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-insured loan, it means it is secured by them. The lending organization provides all the money in the loan; the FHA simply insures the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. Available to all purchasers, FHA loan programs are created 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. The loan programs that the Federal Housing Administration provides are excessively useful to purchasers with less starting income. |