Need an appraisal for an FHA-backed mortgage? Call Cosgrove Appraisal

The FHA maintains of approved appraisers for each state - Cosgrove Appraisal is on the roster of approved appraisers for TX. We're qualified and approved to do appraisal reports for FHA insured financial transactions. A portion of the continuing training our staff at Cosgrove Appraisal receives deals exclusively with decoding the FHA's documentation and their rules and procedures.

If your loan is FHA insured, that means that it has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The lending organization takes care of all the money in the loan; the FHA simply backs the transaction with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and qualifications for lending organizations that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are extremely beneficial to those purchasers with less accumulated starting capital.