Need an appraisal for an FHA-backed mortgage? Call Galloway Appraisal
The FHA publishes a list of approved appraisers for each state - Galloway Appraisal is on the roster of approved appraisers for KY. This means that we are certified and approved by the FHA to do appraisals for property loans insured by them. Part of the regular training our staff at Galloway Appraisal undergoes deals strictly with decoding the FHA's documentation and their rules and procedures.
Be sure to contact Galloway Appraisal if you need an appraisal done for an FHA-secured loan.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is secured by them. None of the funds are provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower doesn't pay their loan. The FHA and their loan programs are created to help low-to-moderate income purchasers help meet credit expectations if they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are particularly beneficial to those homebuyers with less accumulated starting capital.