Rest assured that Kent & Associates is an FHA-certified appraisal provider in New Mexico. If you have an FHA-insured mortgage, be sure to get with Kent & Associates, as we are approved and qualified to handle FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Kent & Associates is well-trained on how to follow the rules and regulations provided.
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-secured loan, it means it is secured by them. The lending company takes care of all the financing - the FHA simply backs the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy consumers get approved for mortgages that they otherwise would not. Remember, the FHA differs from the VA appraiser panel in that the lending organization can choose the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lesser incomes or less starting money to put down on a financial transaction benefit the most from FHA loan programs.
