Michael CerratoMichael Cerrato is AR state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-secured mortgage, be sure to call Michael Cerrato, as we are approved and certified to produce FHA appraisal reports. Part of the continuing training our staff at Michael Cerrato undergoes 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 that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending organizations with protection through mortgage insurance in case the borrower does not pay his or her loan obligations. The FHA and their loan programs are designed to aid low-to-moderate income homebuyers help meet credit expectations if 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 FHA provides are acutely beneficial to purchasers with less starting capital. |