Salt Lake Appraising CompanyWe assure you that Salt Lake Appraising Company is an FHA-approved appraisal practice in UT. This means that we are certified and approved by the FHA to do appraisal reports for home loans insured by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Salt Lake Appraising Company is well-trained on how to comply with the rules and regulations provided. Be sure to contact Salt Lake Appraising Company if you need an appraisal done for an FHA-secured 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-secured loan, it means it is underwritten by them. The FHA does not loan capital to borrowers, rather, it provides lending organizations with safety with mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and necessities for lenders 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 helpful to buyers with less starting capital. |