is South Dakota state certified and on the FHA Roster of approved residential appraisers.
We're certified and approved to do appraisals for FHA secured loans.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Duffy Appraisals is well-trained on how to comply with the rules and regulations provided.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA loan, it means it is underwritten by them.
The lending organization takes care of all the loaned money - the FHA simply secures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan.
The FHA and their loan programs are built to assist low-to-moderate income purchasers by easing credit qualifications.
Remember that the lender approving a loan associated with the Federal Housing Administration is able to select which appraisers they work with, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are incredibly useful to those buyers with less available starting capital.
