Need an appraisal for an FHA-backed mortgage? Call Carol Lea

We are happy to say that Carol Lea is an FHA-certified appraisal practice in TX. This indicates that we are qualified and approved by the FHA to do appraisal reports for house loans backed by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Carol Lea is well-trained on how to follow the rules and regulations provided.

An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the money in the loan; the FHA simply backs the loan with mortgage insurance in case the borrower defaults on his or her loan. Available to all homebuyers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly useful to those buyers with less accumulated cash.