is Michigan state certified and on the FHA Roster of approved residential appraisers.
Back Country Apprasal L.L.C. is qualified and approved to do appraisals for FHA insured financial transactions.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Back Country Apprasal L.L.C. is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is secured 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 loan funds to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income consumers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to help credit-worthy buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lending agency working with Federal Housing Administration has the ability to select the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Consumers with lower incomes or less starting capital to use as a down-payment on a loan benefit the most from FHA loan programs.