Need an appraisal for an FHA-backed mortgage? Call a la mode

a la mode is UT state certified and on the FHA Roster of approved residential appraisers. This indicates that we are certified and approved by the FHA to do appraisals for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at a la mode is well-trained on how to follow the rules and regulations provided.

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 financial transaction is an FHA-insured loan, it means it is insured by them. The FHA does not loan capital to borrowers, rather, it provides lenders with safety with mortgage insurance in case the borrower defaults on his or her financial obligations. Applicable to all consumers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

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 lesser income or less starting money to use as a down-payment on a mortgage benefit the most from FHA loan programs.