Need an appraisal for an FHA-backed mortgage? Call Rysavy Appraisal ServiceRysavy Appraisal Service is South Dakota state certified and on the FHA Roster of approved residential appraisers. Rysavy Appraisal Service is qualified and approved to do reports for FHA secured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your home loan is FHA insured, that means that the loan has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers. Rather, it provides lending agencies with protection by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Available to all consumers, FHA loan programs are designed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember, the FHA is different from the VA appraiser panel in that the lending organization can pick the appraiser.The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lesser incomes or less starting capital to put down on a financial transaction benefit the most from FHA loan programs.