Flight Appraisal is your FHA certified appraisal companyWe confidently state that Flight Appraisal is an FHA-certified appraisal service in MI. This means that we are certified 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 you need an appraisal report 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 money in the loan; the FHA simply backs the loan through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and requirements 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. The loan programs that the Federal Housing Administration offers are acutely useful to purchasers with less starting income. |