Need an appraisal for an FHA-backed mortgage? Call Appraisal Partners, IncAppraisal Partners, Inc is Minnesota state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-mortgage, be sure to contact Appraisal Partners, Inc, as we are approved and qualified to perform FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the money in the loan - the FHA simply backs the transaction with mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are built to help low-to-moderate income homebuyers by easing credit qualifications. Unlike the VA appraiser panel, the lender working with Federal Housing Administration is allowed to pick the appraiser. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Those with lesser incomes or less starting money to put down on a mortgage are assisted the most from Federal Housing Administration loan programs. |
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