Northwoods Valuation LLC can do FHA loansRest assured that Northwoods Valuation LLC is an FHA-certified appraisal service in MI. This means that we are qualified and approved by the FHA to do appraisals for home loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is underwritten 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 safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and requirements for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lesser income or less starting funds to put down on a loan benefit the most from FHA loan programs. |