Legend Appraisals

The FHA publishes a list of approved appraisers for each state - Legend Appraisals is on the roster of approved appraisers for NV. If you have an FHA-insured loan, be sure to call Legend Appraisals, as we are approved and qualified to perform FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

An FHA loan is backed by the Federal Housing Administration, a federal organization that is a part of 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 make sure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and qualifications for lending organizations that 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. Purchasers with lesser income or less starting money to use as a down-payment on a loan are assisted the most from FHA loan programs.