Need an appraisal for an FHA-backed mortgage? Call West Michigan Appraisal
West Michigan Appraisal is MI state certified and on the FHA Roster of approved residential appraisers. We are certified and approved to do appraisals for FHA secured financial transactions. Part of the continuing training our staff at West Michigan Appraisal completes deals exclusively 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). None of the funds are provided by the FHA; what the FHA does is make sure that the loan is insured in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and necessities for lenders 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. The loan programs that the FHA offers are exceedingly helpful to purchasers with less starting income.