Need an appraisal for an FHA-backed mortgage? Call Miller Appraisals

The FHA publishes a list of approved appraisers for each state - Miller Appraisals is on the roster of approved appraisers for OH. This indicates that we are qualified and approved by the FHA to do appraisals for house loans insured by them. A certain amount of the continuing training our staff at Miller Appraisals undergoes deals exclusively with comprehending the FHA's documentation and their rules and procedures.

An FHA loan is backed by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lenders with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are formed to help low-to-moderate income purchasers help meet credit qualifications if they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly useful to those buyers with less available cash.