Clapp Appraisal Service is your FHA certified appraisal companyThe FHA maintains of approved appraisers for each state - Clapp Appraisal Service is on the roster of approved appraisers for TX. This means that we are certified and approved by the FHA to do appraisal reports for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Clapp Appraisal Service is well-trained on how to work in accordance with the rules and regulations provided. Be sure to contact Clapp Appraisal Service if you need an appraisal done for an FHA-secured loan. An FHA loan is backed by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with safety with mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and necessities 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. Purchasers with lower income or less starting capital to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs. |