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

The FHA publishes a list of approved appraisers for each state - Austad Appraisals is on the roster of approved appraisers for ND. 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 periodic training our staff at Austad Appraisals completes deals precisely 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 lending company takes care of all the loaned money; the FHA simply secures the loan through mortgage insurance in case the borrower defaults on his or her loan. Accessible to all purchasers, FHA loan programs are designed to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.

Down payments are often lower with an FHA loan despite using conventional market rates. Purchasers with lesser income or less starting funds to put down on a financial transaction are helped the most from FHA loan programs.