Need an appraisal for an FHA-backed mortgage? Call Barnes Appraisal Company
Barnes Appraisal Company is OK state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do appraisal reports for FHA insured loans. A portion of the periodic training our staff at Barnes Appraisal Company undergoes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is backed by them. The FHA does not loan funds to borrowers, rather, it provides lending organizations with protection by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Applicable to all homebuyers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA provides are acutely beneficial to consumers with less starting capital.