Need an appraisal for an FHA-backed mortgage? Call Karen CastanedaThe FHA keeps a roster of approved appraisers for each state - Karen Castaneda is on the roster of approved appraisers for TX. This means that we are qualified and approved by the FHA to do appraisals for house loans underwritten by them. Part of the regular training our staff at Karen Castaneda completes deals exclusively with comprehending the FHA's documentation and their rules and procedures. If you need an report for an FHA loan, please contact us, and we'll be able to help you right away. If your home loan is FHA approved, that means that the loan has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The lending organization provides all the finances; the FHA simply secures the transaction with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-backed financial transaction; the point of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and requirements 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. FHA loan programs are incredibly useful to those buyers with less accumulated funding. |