Rest assured that Ed Gray Associates is an FHA-certified appraisal firm in Texas.
If you have an FHA-mortgage, be sure to call Ed Gray Associates, as we are approved and certified to produce FHA appraisals.
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 underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is paid for in case the borrower doesn't pay their loan.
The FHA and their loan programs are built to aid low-to-moderate income homebuyers by easing credit requirements.
Remember, the FHA differs from the VA appraiser panel in that the lending organization can pick the appraiser.
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 provides are lifesavers to consumers with minimal starting income.