Molenaar and Associates, Inc., Real Estate AppraisersMolenaar and Associates, Inc., Real Estate Appraisers is Michigan are state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do reports for house loans underwritten by them. A certain amount of the regular training our staff at Molenaar and Associates, Inc., Real Estate Appraisers undergoes deals exclusively with decoding the FHA's documentation and their rules and procedures.
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 financial transaction is an FHA-secured loan, it means it is underwritten by them. The lender provides all the funds being borrowed - the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are built to assist low-to-moderate income buyers by easing credit requirements. Unlike the VA appraiser panel, the lending agency working with FHA has the ability to pick the appraiser.Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lower income or less starting funds to put down on a mortgage are assisted the most from Federal Housing Administration loan programs.