Metro Appraisals can do FHA backed loans
The FHA retains of approved appraisers for each state - Metro Appraisals is on the roster of approved appraisers for ID. We're certified and approved to do reports for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Metro Appraisals is well-trained on how to follow the rules and regulations provided.
If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan 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 ensure that the mortgage is secure in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and necessities for lending agencies that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are particularly beneficial to those buyers with less accessible cash.