Peabody Allied Appraisers is ready for your FHA work
Rest assured that Peabody Allied Appraisers is an FHA-approved appraisal firm in MA. This indicates that we are certified and approved by the FHA to do reports for house loans backed by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Peabody Allied Appraisers is well-trained on how to comply with the rules and regulations provided.
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 agency in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-secured loan, it means it is secured by them. The lender takes care of all the loaned money; the FHA simply secures the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to help credit-worthy 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. Purchasers with lesser income or less starting money to put down on a mortgage are helped the most from Federal Housing Administration loan programs.