Need an appraisal for an FHA-backed mortgage? Call St. Charles/WestPlex Appraisal Services, LLCWe are happy to say that St. Charles/WestPlex Appraisal Services, LLC is an FHA-approved appraisal practice in MO. We're certified and approved to do appraisal reports for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents. 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-secured loan, it means it is underwritten by them. None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is taken care of in case the borrower doesn't pay their loan. Low-income and moderate-income consumers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and requirements for lending agencies that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Those with lower income or less starting capital to put down on a financial transaction are helped the most from FHA loan programs. |