We confidently state that Appraisals Plus LLC is an FHA-certified appraisal firm in Missouri.
This means that we are qualified and approved by the FHA to do reports for home loans backed by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your property loan is FHA certified, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is ensure that the loan is taken care of in case the borrower doesn't pay their loan.
Accessible to all buyers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lending agency working with the the Federal Housing Administration is allowed to select which appraisers they will use, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the Federal Housing Administration provides are extremely beneficial to buyers with minimal starting income.
