is Michigan state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured loan, be sure to hire Blue Moon Real Estate Appraisal, as we are approved and certified to perform FHA reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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 loan is an FHA-insured loan, it means it is secured by them.
None of the money in the loan is provided by the FHA. What the FHA does is make sure that the mortgage is secure in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are formed to help low-to-moderate income purchasers by easing credit qualifications.
Unlike the VA appraiser panel, the lending agency working with FHA has the freedom to select the appraiser.
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 incredibly beneficial to purchasers with minimal starting income.
