Need an appraisal for an FHA-backed mortgage? Call Metro Appraisals
Metro Appraisals is ID state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-loan, be sure to hire Metro Appraisals, as we are approved and certified to handle FHA appraisal reports. A certain amount of the periodic training our staff at Metro Appraisals completes deals precisely with understanding 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.
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-insured loan, it means it is underwritten by them. The FHA does not loan capital to borrowers, rather, it provides lending agencies with safety through mortgage insurance in case the borrower defaults on his or her loan obligations. Accessible to all homebuyers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. FHA loan programs are extremely beneficial to those purchasers with less accumulated funding.