Need an appraisal for an FHA-backed mortgage? Call Harbor Appraisals
Rest assured that Harbor Appraisals is an FHA-certified appraisal company in MN. We are certified and approved to do appraisals for FHA insured loans. A certain amount of the continuing training our staff at Harbor Appraisals undergoes deals exclusively with understanding the FHA's documentation and their rules and procedures.
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
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 underwritten 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 taken care of in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to assist low-to-moderate income consumers help meet credit qualifications if they otherwise would not.
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 offers are exceedingly beneficial to buyers with less starting capital.