Rest assured that Merit Appraisal Service is an FHA-approved appraisal company in Missouri.
Merit Appraisal Service is certified and approved to do reports for FHA insured loans.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Merit Appraisal Service is well-trained on how to work in accordance with the rules and regulations provided.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is backed by the Federal Housing Administration, a federal organization 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 ensure that the loan is taken care of in case the borrower doesn't pay their loan.
Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency can pick the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are particularly useful to those buyers with less accumulated funding.
