Blake Appraisal Corp.The FHA retains a list of approved appraisers for each state - our appraisers are on the roster of approved appraisers for Michigan. We are certified and approved to do appraisals for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Blake Appraisal Corp. is well-trained on how to work in accordance with the rules and regulations provided.
An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending company provides all the financing - the FHA simply insures the loan through mortgage insurance in case the borrower does not pay off his or her loan. Available to all buyers, FHA loan programs are made to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Unlike the VA appraiser panel, the lending organization working with Federal Housing Administration is allowed to choose 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 lesser incomes or less starting capital to put down on a loan are assisted the most from Federal Housing Administration loan programs. |
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