West Michigan Appraisal is approved for FHA work
The FHA publishes a list of approved appraisers for each state - West Michigan Appraisal is on the roster of approved appraisers for MI. West Michigan Appraisal is qualified and approved to do appraisals for FHA insured loans. A portion of the periodic training our staff at West Michigan Appraisal completes 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.
If your house loan is FHA approved, that means that it has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The lending company provides all the loaned money; the FHA simply backs the transaction through mortgage insurance in case the borrower defaults on his or her loan. Applicable to all homebuyers, FHA loan programs are made to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly helpful to those consumers with less accessible cash.