Need an appraisal for an FHA-backed mortgage? Call Eagle Appraisals MN, Inc.Rest assured that Eagle Appraisals is an FHA-approved appraisal service in Minnesota. If you have an FHA-mortgage, be sure to hire Eagle Appraisals, as we are approved and qualified to handle FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the money in the loan - the FHA simply insures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. Accessible to all homebuyers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Remember, the FHA deviates from the VA appraiser panel in that the lending organization can select 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. The loan programs that the FHA provides are extremely useful to purchasers with less starting capital.