Need an appraisal for an FHA-backed mortgage? Call TBD Appraisal

The FHA maintains of approved appraisers for each state - TBD Appraisal is on the roster of approved appraisers for MI. This means that we are certified and approved by the FHA to do reports for property loans underwritten by them. A certain amount of the periodic training our staff at TBD Appraisal completes deals strictly with decoding the FHA's documentation and their rules and procedures.

An FHA loan is underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending organizations with protection by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and qualifications for lending organizations 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 particularly useful to those homebuyers with less accumulated funding.