Need an appraisal for an FHA-backed mortgage? Call Elinor J. RichardElinor J. Richard is RI state certified and on the FHA Roster of approved residential appraisers. We are certified and approved to do appraisals for FHA insured loans. Part of the regular training our staff at Elinor J. Richard receives deals exclusively 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. An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending organizations with safety by offering mortgage insurance in case the borrower does not pay his or her financial obligations. The FHA and their loan programs are formed to help low-to-moderate income buyers help meet credit requirements if 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 incredibly beneficial to those buyers with less accumulated funding. |