is Michigan state certified and on the FHA Roster of approved residential appraisers.
LA Appraisals, LLC is qualified and approved to do reports for FHA secured financial transactions.
A portion of the ongoing training our staff at LA Appraisals, LLC undergoes deals exclusively with understanding the FHA's documentation and their rules and procedures.
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If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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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-secured loan, it means it is backed by them.
None of the funds are provided by the FHA. What the FHA does is see to it that the loan is insured in case the borrower defaults on his or her loan obligations.
Accessible to all homebuyers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Unlike the VA appraiser panel, the lender working with FHA actually has the ability to select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Those with lesser incomes or less starting capital to put down on a mortgage benefit the most from Federal Housing Administration loan programs.