MVP Appraisal Group can do FHA loansThe FHA publishes a list of approved appraisers for each state - MVP Appraisal Group is on the roster of approved appraisers for MO. This indicates that we are qualified and approved by the FHA to do appraisals for house loans underwritten by them. A portion of the regular training our staff at MVP Appraisal Group receives deals precisely with decoding the FHA's documentation and their rules and procedures. Be sure to contact MVP Appraisal Group if you need an appraisal done for an FHA-secured loan. 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 loan, it means it is backed by them. The FHA does not loan capital to borrowers, rather, it provides lending organizations with safety with mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and necessities for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly helpful to those homebuyers with less accessible funding. |