Chambers Appraisal is approved for FHA loans

We assure you that Chambers Appraisal is an FHA-certified appraisal service in SD. This means that we are qualified and approved by the FHA to do appraisal reports for house loans insured by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Chambers Appraisal is well-trained on how to work in accordance with the rules and regulations provided.

If your house loan is FHA insured, that means that the loan has been guaranteed by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is make sure that the mortgage is insured in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly helpful to those buyers with less available starting capital.