We're FHA Approved

An FHA loan program is insured by the Federal Housing Administration (FHA), a federal agency within the U.S Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers. The agency does provide lender protection through mortgage insurance (MIP) in the event the borrower defaults on the loan obligation.

FHA loan programs are:

· Available to all buyers

· Designed to help creditworthy low to moderate-income families who do not meet the requirements for conventional loans

· Beneficial to those buyers with less available cash

· Generally comparable to the current market rates; however, down payment requirements are generally lower than that of conventional loans

Unlike a Veterans Administration (VA) loan, FHA loan applicants can choose their own appraiser provided they are listed on the FHA roster of approved residential appraisers. At RU Appraisals, LLC, we are on the FHA approved appraisers list. Effective 10/01/2009 the FHA will require appraisers to be Certified or Certified General, not just licensed. RU Appraisals, LLC is currently Certified General, perpared to cover all property types within FHA requirements.