Trust Appraisal Group can do FHA mortgages
The FHA maintains of approved appraisers for each state - Trust Appraisal Group is on the roster of approved appraisers for MN. If you have an FHA-insured loan, be sure to get with Trust Appraisal Group, as we are approved and qualified to produce FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If you need an report for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is secure in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and necessities for lending agencies that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are particularly useful to those buyers with less available starting capital.