Barnes Appraisal Company
Rest assured that Barnes Appraisal Company is an FHA-certified appraisal firm in OK. If you have an FHA-secured loan, be sure to hire Barnes Appraisal Company, as we are approved and certified to handle FHA reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the loaned money; the FHA simply backs the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and qualifications for lending agencies that they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Those with lesser income or less starting funds to put down on a financial transaction benefit the most from Federal Housing Administration loan programs.