Rest assured that Appraisals By Michael is an FHA-approved appraisal provider in Georgia.
We are qualified and approved to do appraisal reports for FHA insured loans.
A portion of the regular training our staff at Appraisals By Michael undergoes deals strictly with decoding the FHA's documentation and their rules and procedures.
If your house loan is FHA approved, that means that the loan has been secured by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is make sure that the mortgage is insured in case the borrower doesn't pay their loan.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lender working with FHA has the freedom to choose the appraiser.
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 helpful to those buyers with less available starting capital.
