B. Russell Valuation is your FHA certified appraisal company
B. Russell Valuation is MN state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisal reports for home loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with security through mortgage insurance in case the borrower defaults on his or her financial obligations. Available to all consumers, FHA loan programs are designed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lesser income or less starting money to use as a down-payment on a mortgage benefit the most from Federal Housing Administration loan programs.