Need an appraisal for an FHA-backed mortgage? Call Mae Sprague

We are happy to say that Mae Sprague is an FHA-certified appraisal firm in AK. We're certified and approved to do appraisals for FHA secured financial transactions. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Mae Sprague is well-trained on how to follow the rules and regulations provided.

The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-secured loan, it means it is secured by them. None of the money in the loan is provided by the FHA; what the FHA does is make sure that the mortgage is secure in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are created to benefit low-to-moderate income buyers help meet credit qualifications if they otherwise would not.

Down payments are often lower with an FHA loan despite using conventional market rates. Consumers with lower income or less starting money to put down on a loan are helped the most from Federal Housing Administration loan programs.