Need an appraisal for an FHA-backed mortgage? Call Dorris AppraisalsWe are happy to say that Dorris Appraisals is an FHA-approved appraisal firm in TN. Dorris Appraisals is qualified and approved to do reports for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Dorris Appraisals is well-trained on how to follow the rules and regulations provided. If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. 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 loan, it means it is insured by them. The lending company provides all the finances; the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and necessities for lending organizations that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Consumers with lesser income or less starting funds to use as a down-payment on a financial transaction are helped the most from FHA loan programs. |