Need an appraisal for an FHA-backed mortgage? Call Miles Appraisal Group
The FHA retains of approved appraisers for each state - Miles Appraisal Group is on the roster of approved appraisers for LA. This indicates that we are certified and approved by the FHA to do reports for house loans underwritten by them. A certain amount of the periodic training our staff at Miles Appraisal Group undergoes deals strictly with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Miles Appraisal Group if you need an appraisal done for an FHA-secured loan.
If your home loan is FHA insured, that means that the loan has been guaranteed by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lenders with security through mortgage insurance in case the borrower does not pay his or her financial obligations. The FHA and their loan programs are designed to benefit low-to-moderate income consumers help meet credit requirements if they otherwise would not.
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 provides are extremely helpful to buyers with less starting capital.