Need an appraisal for an FHA-backed mortgage? 

We are Certified and approved to do Appraisal reports for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to comprehend, but we at Ecklund Appraisals are well versed with all current regulations covering all of FHA Handbook 4000.1. 

 

If your house loan is FHA certified, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The lending company takes care of all the money in the loan - the FHA simply secures the loan through mortgage insurance in case the borrower does not pay off his or her loan. Accessible to all homebuyers, FHA loan programs are created to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Different from the VA appraiser panel, the lending agency working with Federal Housing Administration is allowed to choose 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. FHA loan programs are extremely useful to those consumers with less available starting capital.