West Michigan Appraisal
The FHA keeps a roster of approved appraisers for each state - West Michigan Appraisal is on the roster of approved appraisers for MI. This means that we are certified and approved by the FHA to do appraisal reports for property loans underwritten by them. Part of the periodic training our staff at West Michigan Appraisal receives deals precisely with decoding the FHA's documentation and their rules and procedures.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending organizations with safety with mortgage insurance in case the borrower does not pay his or her loan obligations. Available to all buyers, FHA loan programs are designed to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Down payments are often lower with an FHA loan despite using conventional market rates. Buyers with lower income or less starting money to use as a down-payment on a financial transaction benefit the most from FHA loan programs.