Ace Appraisals is your FHA certified appraisal companyThe FHA keeps a roster of approved appraisers for each state - Ace Appraisals is on the roster of approved appraisers for AK. This means that we are qualified and approved by the FHA to do appraisals for house loans backed by them. A certain amount of the continuing training our staff at Ace Appraisals receives deals exclusively with understanding the FHA's documentation and their rules and procedures. Be sure to contact Ace 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-secured loan, it means it is insured by them. The FHA does not loan money to borrowers, rather, it provides lenders with protection through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and necessities for lending agencies 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 funds to put down on a mortgage are helped the most from FHA loan programs. |