Need an appraisal for an FHA-backed mortgage? Call Michael MavrakosMichael Mavrakos is MA state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do reports for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Michael Mavrakos if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-insured loan, it means it is underwritten by them. No part of the loan is provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and requirements for lending organizations that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly helpful to those consumers with less available starting capital. |