Need an appraisal for an FHA-backed mortgage? Call Shannon Waters-Mitchell

Shannon Waters-Mitchell is Florida state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisals for house loans backed by them. A portion of the ongoing training our staff at Shannon Waters-Mitchell receives deals strictly with comprehending the FHA's documentation and their rules and procedures.

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 financial transaction is an FHA loan, it means it is backed by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the mortgage is paid for in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and qualifications for lending organizations that they otherwise would not.

Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are extremely helpful to those buyers with less available starting capital.