Need an appraisal for an FHA-backed mortgage? Call Andrews AppraisalsThe FHA maintains of approved appraisers for each state - Andrews Appraisals is on the roster of approved appraisers for ND. This means that we are certified and approved by the FHA to do appraisals for house loans insured by them. Part of the ongoing training our staff at Andrews Appraisals receives deals exclusively with comprehending the FHA's documentation and their rules and procedures. 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. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA loan, it means it is underwritten by them. The lender provides all the finances; the FHA simply backs the loan through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and requirements for lending agencies that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Consumers with lesser income or less starting funds to use as a down-payment on a financial transaction benefit the most from Federal Housing Administration loan programs. |