Need an appraisal for an FHA-backed mortgage? Call Prescott Appraisal Service, Inc.

The FHA publishes a list of approved appraisers for each state - Prescott Appraisal Service, Inc. is on the roster of approved appraisers for RI. We're qualified and approved to do appraisals for FHA insured loans. A certain amount of the continuing training our staff at Prescott Appraisal Service, Inc. completes deals exclusively with understanding the FHA's documentation and their rules and procedures.

If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away.

An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA; what the FHA does is make sure that the mortgage is insured in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are created to assist low-to-moderate income consumers help meet credit requirements 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 lower income or less starting money to put down on a loan are assisted the most from Federal Housing Administration loan programs.