We assure you that Meyer Real Estate Appraisals is an FHA-certified appraisal practice in South Dakota.
If you have an FHA-secured loan, be sure to hire Meyer Real Estate Appraisals, as we are approved and certified to handle FHA reports.
A portion of the regular training our staff at Meyer Real Estate Appraisals receives deals exclusively with comprehending the FHA's documentation and their rules and procedures.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is ensure that the mortgage is insured in case the borrower doesn't pay their loan.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to help credit-worthy consumers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lending agency working with FHA is allowed to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Buyers with lower incomes or less starting capital to use as a down-payment on a mortgage are assisted the most from FHA loan programs.
