is Michigan state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-secured mortgage, be sure to call Kennedy Appraisals, as we are approved and certified to produce FHA appraisal reports. Part of the regular training our staff at Kennedy Appraisals undergoes deals strictly with understanding the FHA's documentation and their rules and procedures.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA. What the FHA does is make sure that the loan is insured in case the borrower defaults on his or her loan obligations. Available to all purchasers, FHA loan programs are formed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember that the lending organization working with the the Federal Housing Administration is permitted to select which appraisers they work with, different from 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 incredibly helpful to those purchasers with less accumulated cash.
