Need an appraisal for an FHA-backed mortgage? Call Corey SpohnThe FHA retains of approved appraisers for each state - Corey Spohn is on the roster of approved appraisers for MI. Corey Spohn is qualified and approved to do appraisal reports for FHA insured financial transactions. A certain amount of the regular training our staff at Corey Spohn completes deals exclusively with understanding 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-insured loan, it means it is backed by them. None of the money in the loan is provided by the FHA; what the FHA does is make sure that the mortgage is insured in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and qualifications for lenders that they otherwise would not. 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 particularly useful to those purchasers with less accumulated cash. |