The FHA retains a roster of approved appraisers for each state - Mackey Appraisals is on the roster of approved appraisers for South Dakota.
Mackey Appraisals is qualified and approved to do reports for FHA secured financial transactions.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Mackey Appraisals is well-trained on how to follow the rules and regulations provided.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency 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 insures the loan through mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are created to help low-to-moderate income buyers by easing credit qualifications.
Different from the VA appraiser panel, the lending agency working with Federal Housing Administration actually has the freedom to pick 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.
The loan programs that the Federal Housing Administration offers are lifesavers to consumers with less starting capital.
