Gary PhillipsGary Phillips is MO state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisals for property loans backed by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Gary Phillips is well-trained on how to comply with the rules and regulations provided. If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. If your property loan is FHA certified, that means that the loan has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and requirements for lending agencies 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. The loan programs that the Federal Housing Administration offers are incredibly beneficial to consumers with less starting income. |