is Michigan state certified and on the FHA Roster of approved residential appraisers.
Realist Appraisal Services is certified and approved to do appraisals for FHA insured financial transactions.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Realist Appraisal Services is well-trained on how to comply with the rules and regulations provided.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lending agencies with protection through mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are designed to help low-to-moderate income buyers by easing credit requirements.
Unlike the VA appraiser panel, the lending organization working with FHA is allowed to pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Those with lesser incomes or less starting funds to use as a down-payment on a mortgage benefit the most from FHA loan programs.