Need an appraisal for an FHA-backed mortgage? Call Preferred Appraisal ServiceRest assured that Preferred Appraisal Service is an FHA-approved appraisal practice in Utah and Nevada. This indicates that we are qualified and approved by HUD to complete FHA reports for home loans insured by them. Be sure to contact Preferred Appraisal Service if you need an appraisal done for an FHA-secured loan. An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA; what the FHA does is ensure that the loan is insured in case the borrower defaults on their loan. Available to all homebuyers, FHA loan programs are made to assist credit-worthy low to moderate income families who do not have the qualifications for conventional loans. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain comparable to conventional market rates. Those with lesser income and/or less funds to use as a down payment on a financial transaction benefit the most from Federal Housing Administration loan programs. |