We assure you that Ford Appraisal Service is an FHA-certified appraisal company in Kentucky. If you have an FHA-secured mortgage, be sure to hire Ford Appraisal Service, as we are approved and certified to perform FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Ford Appraisal Service is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The lender takes care of all the money in the loan - the FHA simply secures the transaction with mortgage insurance in case the borrower defaults on his or her loan. Accessible to all purchasers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember, the FHA is different from the VA appraiser panel in that the lending organization can choose the appraisal company.
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 offers are lifesavers to consumers with minimal starting capital.
