The FHA publishes a roster of approved appraisers for each state - Trust Real Estate Appraisal Services PLC is on the roster of approved appraisers for Michigan.
We are certified and approved to do appraisal reports for FHA secured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
||If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-secured loan, it means it is underwritten by them.
The lending organization takes care of all the financing - the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan.
Available to all buyers, FHA loan programs are formed to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Unlike 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.
Purchasers with lower incomes or less starting money to use as a down-payment on a loan benefit the most from Federal Housing Administration loan programs.