Need an appraisal for an FHA-backed mortgage? Call Tom PetersonThe FHA maintains of approved appraisers for each state - Tom Peterson is on the roster of approved appraisers for MN. We are certified and approved to do appraisals for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Tom Peterson if you need an appraisal done for an FHA-secured loan. If your home loan is FHA certified, that means that it has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and requirements for lending organizations 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 extremely helpful to those consumers with less accumulated cash. |