L.M. AppraisalsRest assured that L.M. Appraisals is an FHA-approved appraisal company in TN. This indicates that we are certified and approved by the FHA to do reports for house loans underwritten by them. A certain amount of the continuing training our staff at L.M. Appraisals receives deals strictly with comprehending the FHA's documentation and their rules and procedures. Be sure to contact L.M. Appraisals if you need an appraisal done for an FHA-secured 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 loan is an FHA-insured loan, it means it is insured by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is insured in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit from an FHA-insured 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. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lesser income or less starting capital to put down on a financial transaction are assisted the most from FHA loan programs. |