is Minnesota state certified and on the FHA Roster of approved residential appraisers.
This means that we are certified and approved by the FHA to do reports for house loans insured by them.
Part of the periodic training our staff at HPS Appraisal Service (952) 758-2837 receives deals precisely with decoding the FHA's documentation and their rules and procedures.
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 loan is an FHA-secured loan, it means it is insured 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 insured in case the borrower doesn't pay their loan.
The FHA and their loan programs are designed to help low-to-moderate income purchasers by easing credit requirements.
Remember that the lending organization approving a loan backed by the Federal Housing Administration is authorized to select their appraisers, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the Federal Housing Administration provides are incredibly helpful to buyers with minimal starting income.
