Allied Real Estate Appraisers
Rest assured that Allied Real Estate Appraisers is an FHA-certified appraisal firm in MI. This means that we are qualified and approved by the FHA to do appraisal reports for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Allied Real Estate Appraisers is well-trained on how to follow the rules and regulations provided.
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 organization within the U.S. Department of Housing and Urban Development (HUD). The lender provides all the money in the loan; the FHA simply insures the loan through mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are built to aid low-to-moderate income consumers help meet credit expectations if they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Those with lesser income or less starting funds to use as a down-payment on a loan are helped the most from Federal Housing Administration loan programs.