Rest assured that Lakeland Appraisal is an FHA-certified appraisal service in Michigan.
We are qualified and approved to do appraisals for FHA secured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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.
The lender takes care of all the financing - the FHA simply backs the loan by providing mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are built to help low-to-moderate income homebuyers by easing credit requirements.
Remember, the FHA differs from the VA appraiser panel in that the lending agency can select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the FHA offers are invaluable to buyers with less starting income.
