Need an appraisal for an FHA-backed mortgage? Call The August Group Inc.
Rest assured that The August Group Inc. is an FHA-approved appraisal practice in MO. This means that we are certified and approved by the FHA to do appraisals for house loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact The August Group Inc. if you need an appraisal done for an FHA-secured loan.
If your financial transaction is FHA certified, that means that the loan has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The lending company provides all the finances; the FHA simply secures the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and necessities for lending agencies that they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. FHA loan programs are particularly helpful to those buyers with less available cash.