Collin Gray Appraisal Company can do FHA backed loans

Collin Gray Appraisal Company is TX state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do appraisal reports for property loans backed by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Collin Gray Appraisal Company is well-trained on how to follow the rules and regulations provided.

An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and qualifications 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 provides are incredibly helpful to buyers with less starting income.