Need an appraisal for an FHA-backed mortgage? Call Michael Scheu

Michael Scheu is OH 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 property loans insured by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Michael Scheu is well-trained on how to comply with the rules and regulations provided.

If your property loan is FHA insured, that means that it has been secured by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is ensure that the loan is paid for in case the borrower doesn't pay their loan. Low-income and moderate-income consumers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and qualifications for lending organizations 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. The loan programs that the FHA provides are extremely beneficial to consumers with less starting capital.