Need an appraisal for an FHA-backed mortgage? Call Richard N. Compton

The FHA maintains of approved appraisers for each state - Richard N. Compton is on the roster of approved appraisers for AL. This indicates that we are qualified and approved by the FHA to do reports for house loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is make sure that the loan is paid for in case the borrower doesn't pay their loan. The FHA and their loan programs are created to assist low-to-moderate income buyers help meet credit qualifications if they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA provides are exceedingly useful to purchasers with less starting capital.