The FHA maintains a roster of approved appraisers for each state - Homefront Appraisals, LLC is on the roster of approved appraisers for Michigan.
We're qualified and approved to do appraisals for FHA insured loans.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Homefront Appraisals, LLC is well-trained on how to follow the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-insured loan, it means it is underwritten by them.
The lender provides all the funds being borrowed - the FHA simply insures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are formed to assist low-to-moderate income homebuyers by easing credit expectations.
Remember, the FHA deviates from the VA appraiser panel in that the lending organization can pick the appraisal company.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the Federal Housing Administration offers are lifesavers to buyers with less starting income.
