Need an appraisal for an FHA-backed mortgage? Call Monroe/Owen Appraisal, Inc.The FHA publishes a list of approved appraisers for each state - Monroe/Owen Appraisal, Inc. is on the roster of approved appraisers for Indiana. If you have an FHA-loan, be sure to call Monroe/Owen Appraisal, Inc., as we are approved and certified to handle FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Monroe/Owen Appraisal, Inc. 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 organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the funds being borrowed - 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 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 is allowed to pick 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 mortgage are helped the most from FHA loan programs. |
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