MGK Properties is approved for FHA mortgagesThe FHA maintains of approved appraisers for each state - MGK Properties is on the roster of approved appraisers for CA. MGK Properties is certified and approved to do appraisal reports for FHA secured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. If you need 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 organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-insured loan, it means it is underwritten by them. The lender takes care of all the loaned money; the FHA simply secures the loan through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed financial transaction; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and requirements for lending organizations 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 offers are extremely beneficial to purchasers with less starting income. |