is Wisconsin state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-secured loan, be sure to call Michael P. Clover, as we are approved and qualified to handle FHA appraisals.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Michael P. Clover is well-trained on how to follow the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The lender takes care of all the money in the loan - the FHA simply backs the loan with mortgage insurance in case the borrower defaults on his or her loan.
Accessible to all purchasers, FHA loan programs are formed to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA deviates from the VA appraiser panel in that the lending organization can choose the appraisal company.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are particularly useful to those homebuyers with less available starting capital.
