We are happy to say that Willie Appraisal, Ltd. is an FHA-certified appraisal service in Wisconsin.
This means that we are qualified and approved by the FHA to do reports for house loans insured by them.
Part of the continuing training our staff at Willie Appraisal, Ltd. completes deals precisely with understanding the FHA's documentation and their rules and procedures.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-insured loan, it means it is secured by them.
No part of the loan is provided by the FHA. What the FHA does is ensure that the mortgage is paid for in case the borrower doesn't pay their loan.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending organization can choose the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the FHA provides are extremely useful to buyers with minimal starting income.
