Need an appraisal for an FHA-backed mortgage? Call Patricia C. Fong, AppraiserThe FHA keeps a roster of approved appraisers for each state - Patricia C. Fong, Appraiser is on the roster of approved appraisers for VA. We are certified and approved to do appraisal reports for FHA secured financial transactions. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Patricia C. Fong, Appraiser is well-trained on how to follow the rules and regulations provided. If you need an report for an FHA loan, please contact us, and we'll be able to help you right away. If your loan is FHA approved, that means that the loan has been secured by the Federal Housing Administration, which is part of the United States 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 mortgage is paid for in case the borrower doesn't pay their loan. Low-income and moderate-income consumers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and requirements for lenders 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. Buyers with lesser income or less starting capital to put down on a mortgage are helped the most from Federal Housing Administration loan programs. |