JE Phillips AppraisalsThe FHA maintains of approved appraisers for each state - JE Phillips Appraisals is on the roster of approved appraisers for TX. This means that we are certified and approved by the FHA to do appraisals for house loans backed by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at JE Phillips Appraisals is well-trained on how to comply with the rules and regulations provided. Contact us today if you need to get an appraisal done on an FHA-insured loan. 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 loan, it means it is backed by them. The FHA does not loan capital to borrowers, rather, it provides lenders with protection through mortgage insurance in case the borrower defaults on his or her loan obligations. Applicable to all buyers, FHA loan programs are designed to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA offers are exceedingly beneficial to consumers with less starting income. |