Tom C. Rice

We assure you that Tom C. Rice is an FHA-approved appraisal provider in NV. We are certified and approved to do appraisal reports for FHA insured financial transactions. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Tom C. Rice is well-trained on how to work in accordance with the rules and regulations provided.

An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the finances; the FHA simply secures the loan by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed financial transaction; the purpose 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. Those with lesser income or less starting money to put down on a mortgage benefit the most from FHA loan programs.