Need an appraisal for an FHA-backed mortgage? Call Biener AppraisalThe FHA keeps a roster of approved appraisers for each state - Biener Appraisal is on the roster of approved appraisers for MI. This means that we are certified and approved by the FHA to do appraisal reports for house loans insured by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Biener Appraisal is well-trained on how to work in accordance with the rules and regulations provided. If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders with safety through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and qualifications for lending organizations that they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Those with lower income or less starting money to use as a down-payment on a financial transaction are helped the most from FHA loan programs. |