Need an appraisal for an FHA-backed mortgage? Call R&R Appraisal Services

The FHA keeps a roster of approved appraisers for each state - R&R Appraisal Services is on the roster of approved appraisers for SC. This indicates that we are certified and approved by the FHA to do appraisals for property loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with safety by offering mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and requirements for lending agencies 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. Buyers with lesser income or less starting funds to use as a down-payment on a financial transaction are helped the most from Federal Housing Administration loan programs.