Need an appraisal for an FHA-backed mortgage? Call Metro Appraisals
The FHA publishes a list of approved appraisers for each state - Metro Appraisals is on the roster of approved appraisers for ID. This indicates that we are certified and approved by the FHA to do appraisals for property loans underwritten by them. A certain amount of the ongoing training our staff at Metro Appraisals undergoes deals strictly with decoding the FHA's documentation and their rules and procedures.
If you need an appraisal report 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 agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is secured by them. The lender takes care of all the money in the loan; the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. Applicable to all homebuyers, FHA loan programs are designed 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. The loan programs that the Federal Housing Administration provides are exceedingly helpful to purchasers with less starting capital.