is Colorado state certified and on the FHA Roster of approved residential appraisers. Rocky Mountain Valuation Services is qualified and approved to do appraisal reports for FHA secured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is insured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers. Rather, it provides lending agencies with security by offering mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to assist credit-worthy potential buyers get approved for mortgages that they otherwise would not. Remember that the lender approving a loan backed by the FHA is authorized to choose their appraisers, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lesser incomes or less starting capital to put down on a financial transaction are assisted the most from FHA loan programs.