Need an appraisal for an FHA-backed mortgage? Call Black Canyon Appraisals

The FHA retains of approved appraisers for each state - Black Canyon Appraisals is on the roster of approved appraisers for . If you have an FHA-mortgage, be sure to hire Black Canyon Appraisals, as we are approved and qualified to perform FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Black Canyon Appraisals is well-trained on how to comply with the rules and regulations provided.

An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending company provides all the finances; 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 homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and requirements for lenders that they otherwise would not.

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 use as a down-payment on a mortgage benefit the most from Federal Housing Administration loan programs.