ML AppraisalsThe FHA publishes a list of approved appraisers for each state - ML Appraisals is on the roster of approved appraisers for UT. This means that we are certified and approved by the FHA to do appraisals for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at ML Appraisals is well-trained on how to work in accordance with the rules and regulations provided. Be sure to contact ML Appraisals if you need an appraisal done for an FHA-secured loan. 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 lender takes care of all the loaned money; the FHA simply backs the loan with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and requirements for lending agencies that 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 particularly beneficial to those homebuyers with less accessible cash. |