Need an appraisal for an FHA-backed mortgage? Call Lakes Appraisals, LLCThe FHA maintains of approved appraisers for each state - Lakes Appraisals, LLC is on the roster of approved appraisers for MN. This indicates that we are qualified and approved by the FHA to do reports for home loans backed by them. A certain amount of the regular training our staff at Lakes Appraisals, LLC completes deals precisely with decoding the FHA's documentation and their rules and procedures. If you're in need of an 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 organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is secured by them. The FHA does not loan funds to borrowers, rather, it provides lending organizations with protection through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and necessities for lending agencies that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are incredibly useful to those homebuyers with less accessible funding. |