The August Group Inc.The FHA keeps a roster of approved appraisers for each state - The August Group Inc. is on the roster of approved appraisers for MO. This means that we are qualified and approved by the FHA to do reports for home loans backed by them. A certain amount of the continuing training our staff at The August Group Inc. undergoes deals precisely with understanding the FHA's documentation and their rules and procedures. Be sure to contact The August Group Inc. if you need an appraisal done for an FHA-secured loan. An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the loaned money; the FHA simply backs the loan with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and qualifications for lending agencies that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly beneficial to those purchasers with less accessible cash. |