Need an appraisal for an FHA-backed mortgage? Call 2 Rivers Appraisal Services, LLC.Rest assured that 2 Rivers Appraisal Services, LLC. is an FHA-certified appraisal firm in Missouri. If you have an FHA-loan, be sure to call 2 Rivers Appraisal Services, LLC., as we are approved and certified to produce FHA appraisals. Part of the periodic training our staff at 2 Rivers Appraisal Services, LLC. completes deals strictly with understanding the FHA's documentation and their rules and procedures.
An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers. Rather, it provides lending agencies with safety with mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are designed to aid low-to-moderate income homebuyers by easing credit requirements. Remember that the lender approving a loan associated with the FHA is allowed to choose which appraisers they will use, unlike the 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 extremely beneficial to those purchasers with less accessible cash.