Terranova Appraisals LLC is your FHA certified appraisal companyTerranova Appraisals LLC is TN state certified and on the FHA Roster of approved residential appraisers. We're certified and approved to do appraisal reports for FHA secured loans. A certain amount of the regular training our staff at Terranova Appraisals LLC undergoes deals exclusively with understanding the FHA's documentation and their rules and procedures. If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is secure in case the borrower doesn't pay their loan. Low-income and moderate-income homebuyers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and requirements for lending agencies that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration provides are acutely helpful to buyers with less starting income. |