Need an appraisal for an FHA-backed mortgage? Call The August Group Inc.
The FHA retains 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 appraisals for home loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
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 insured by them. The lending company provides all the loaned money; the FHA simply backs the transaction through mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are designed to benefit low-to-moderate income consumers help meet credit qualifications if they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lower income or less starting funds to put down on a mortgage benefit the most from Federal Housing Administration loan programs.