Need an appraisal for an FHA-backed mortgage? Call Lakeland Appraisal
Lakeland Appraisal is MI state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisals for house loans insured by them. A portion of the continuing training our staff at Lakeland Appraisal receives deals strictly with understanding the FHA's documentation and their rules and procedures.
Be sure to contact Lakeland Appraisal 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 underwritten by them. None of the funds are provided by the FHA; what the FHA does is ensure that the loan is insured in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to aid 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. The loan programs that the FHA offers are incredibly beneficial to purchasers with less starting income.
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