is Michigan state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisal reports for house loans insured by them. A certain amount of the regular training our staff at Appraisal Link completes deals precisely with comprehending the FHA's documentation and their rules and procedures.
If your financial transaction is FHA certified, that means that the loan has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The lender takes care of 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 consumers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember that the lending agency approving a loan backed by the Federal Housing Administration is able to select which appraisers they will use, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA provides are extremely useful to consumers with minimal starting capital.
