TRA-Times Realty Appraisals, Inc. is approved for FHA backed loansTRA-Times Realty Appraisals, Inc. is PA state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-loan, be sure to hire TRA-Times Realty Appraisals, Inc., as we are approved and certified to perform FHA appraisal reports. A certain amount of the periodic training our staff at TRA-Times Realty Appraisals, Inc. completes deals precisely with comprehending the FHA's documentation and their rules and procedures. If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. 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-insured loan, it means it is underwritten by them. The lending company provides all the loaned money; the FHA simply backs the transaction with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and requirements for lending organizations 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. Those with lower income or less starting money to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs. |