The FHA maintains a roster of approved appraisers for each state - National Valuation Services is on the roster of approved appraisers for Missouri.
This indicates that we are qualified and approved by the FHA to do reports for house loans insured by them.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at National Valuation Services is well-trained on how to comply with the rules and regulations provided.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lenders with safety with mortgage insurance in case the borrower does not pay his or her loan obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to assist credit-worthy buyers get approved for mortgages that they otherwise would not.
Remember that the lending organization approving a loan associated with the FHA is free to select which appraisers they work with, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Purchasers with lower incomes or less starting capital to use as a down-payment on a loan benefit the most from FHA loan programs.