We assure you that Veritech Appraisal is an FHA-certified appraisal practice in Michigan.
We're qualified and approved to do appraisals for FHA secured loans.
A portion of the regular training our staff at Veritech Appraisal completes deals precisely with decoding the FHA's documentation and their rules and procedures.
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 loan, it means it is insured by them.
The lending organization provides all the money in the loan - the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are built to benefit low-to-moderate income consumers by easing credit expectations.
Remember, the FHA is different from the VA appraiser panel in that the lending organization can pick the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the Federal Housing Administration provides are lifesavers to buyers with less starting income.
