The FHA retains a roster of approved appraisers for each state - MNP Residential Appraisals LLC is on the roster of approved appraisers for Louisiana.
This indicates that we are certified and approved by the FHA to do appraisals for property loans insured by them.
A portion of the continuing training our staff at MNP Residential Appraisals LLC undergoes deals strictly with understanding the FHA's documentation and their rules and procedures.
||If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.
If your financial transaction is FHA insured, that means that the loan has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lenders with security with mortgage insurance in case the borrower defaults on his or her financial obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to help credit-worthy potential buyers get approved for mortgages that they otherwise would not.
Remember that the lender approving a loan associated with the Federal Housing Administration is free to choose their appraisers, different from VA appraisal panel.
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 funds to put down on a loan benefit the most from Federal Housing Administration loan programs.