We confidently state that M & B Appraisals, LLC is an FHA-approved appraisal service in Missouri.
We are qualified and approved to do appraisals for FHA secured loans.
Part of the periodic training our staff at M & B Appraisals, LLC completes deals precisely with understanding the FHA's documentation and their rules and procedures.
An FHA loan is insured 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 agencies with protection with mortgage insurance in case the borrower does not pay his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to assist credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember that the lending agency approving a loan backed by the FHA is authorized to choose their appraisers, different from VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
The loan programs that the Federal Housing Administration offers are extremely helpful to consumers with less starting income.
