Need an appraisal for an FHA-backed mortgage? Call Central Alabama Appraisal

We are happy to say that Central Alabama Appraisal is an FHA-approved appraisal practice in AL. This indicates that we are certified and approved by the FHA to do appraisals for property loans backed by them. A portion of the ongoing training our staff at Central Alabama Appraisal receives deals strictly with decoding the FHA's documentation and their rules and procedures.

If your financial transaction is FHA certified, that means that it has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The lender provides all the loaned money; the FHA simply secures the loan by providing mortgage insurance in case the borrower defaults on his or her loan. Accessible to all buyers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lower income or less starting capital to put down on a loan benefit the most from Federal Housing Administration loan programs.