Need an appraisal for an FHA-backed mortgage? Call Barnes Appraisal Company
The FHA maintains of approved appraisers for each state - Barnes Appraisal Company is on the roster of approved appraisers for OK. We're qualified and approved to do appraisals for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Barnes Appraisal Company is well-trained on how to work in accordance with the rules and regulations provided.
Be sure to contact Barnes Appraisal Company if you need an appraisal done for an FHA-secured loan.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending organizations with protection through mortgage insurance in case the borrower defaults on his or her financial obligations. The FHA and their loan programs are built to assist low-to-moderate income purchasers help meet credit expectations if they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are extremely beneficial to those purchasers with less accessible cash.