Need an appraisal for an FHA-backed mortgage? Call Cara Smith

Rest assured that Cara Smith is an FHA-certified appraisal practice in MI. If you have an FHA-secured loan, be sure to get with Cara Smith, as we are approved and qualified to perform FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

If your financial transaction is FHA certified, that means that the loan has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The lender takes care of all the finances; the FHA simply backs the transaction through mortgage insurance in case the borrower defaults on his or her loan. Applicable to all consumers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

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 Federal Housing Administration offers are incredibly beneficial to buyers with less starting capital.