is Minnesota state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured mortgage, be sure to hire Fortress Next Day, as we are approved and qualified to perform FHA reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is insured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The lending company takes care of all the financing - the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan.
Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember, the FHA deviates from the VA appraiser panel in that the lending organization can select the appraisal company.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Buyers with lower incomes or less starting capital to put down on a mortgage are helped the most from FHA loan programs.
