Rest assured that Action Appraisals Inc is an FHA-certified appraisal practice in North Dakota.
Action Appraisals Inc is certified and approved to do appraisal reports for FHA secured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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 insured by them.
The FHA does not loan capital to borrowers. Rather, it provides lending agencies with safety by offering mortgage insurance in case the borrower defaults on his or her financial obligations.
Applicable to all consumers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lender approving a loan backed by the FHA is free to choose which appraisers they will use, unlike the VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are extremely beneficial to those consumers with less accessible funding.
