IMA Appraisal ServicesWe are happy to say that IMA Appraisal Services is an FHA-certified appraisal firm in CT. This indicates that we are certified and approved by the FHA to do appraisal reports for property loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact IMA Appraisal Services if you need an appraisal done for an FHA-secured loan. If your loan is FHA insured, that means that it has been guaranteed by the FHA, which is part of the United States Department of Housing and Urban Development (HUD). The lender takes care of all the money in the loan; the FHA simply backs the transaction with mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are formed to aid low-to-moderate income buyers help meet credit qualifications if 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. Those with lesser income or less starting funds to use as a down-payment on a financial transaction benefit the most from FHA loan programs. |