Need an appraisal for an FHA-backed mortgage? Call Appraisal Metrics
The FHA keeps a roster of approved appraisers for each state - Appraisal Metrics is on the roster of approved appraisers for MI. This indicates that we are certified and approved by the FHA to do reports for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Appraisal Metrics is well-trained on how to follow the rules and regulations provided.
Be sure to contact Appraisal Metrics if you need an appraisal done for an FHA-secured loan.
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-insured loan, it means it is secured by them. None of the funds are provided by the FHA; what the FHA does is ensure that the loan is taken care of in case the borrower doesn't pay their loan. Applicable to all buyers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not meet requirements 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. FHA loan programs are extremely beneficial to those purchasers with less accessible starting capital.