Need an appraisal for an FHA-backed mortgage? Call Barnes Appraisal Company
The FHA keeps a roster of approved appraisers for each state - Barnes Appraisal Company is on the roster of approved appraisers for OK. This indicates that we are certified and approved by the FHA to do appraisal reports for house loans insured by them. Part of the continuing training our staff at Barnes Appraisal Company completes deals strictly with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Barnes Appraisal Company if you need an appraisal done for an FHA-secured loan.
If your house loan is FHA certified, that means that it has been guaranteed by the FHA, which is part of the United States Department of Housing and Urban Development (HUD). The lending company provides all the money in the loan; the FHA simply insures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and requirements for lenders that they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lesser income or less starting money to put down on a mortgage are assisted the most from FHA loan programs.