is New York state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured mortgage, be sure to contact Mid-Lakes Appraisals, as we are approved and qualified to produce FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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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 financial transaction is an FHA-secured loan, it means it is secured by them.
None of the money in the loan is provided by the FHA. What the FHA does is see to it that the loan is paid for in case the borrower doesn't pay their loan.
The FHA and their loan programs are designed to aid low-to-moderate income purchasers by easing credit qualifications.
Remember, the FHA differs from the VA appraiser panel in that the lender can select 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.
The loan programs that the Federal Housing Administration offers are extremely helpful to purchasers with less starting capital.