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 are qualified and approved to do appraisals for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Barnes Appraisal Company is well-trained on how to follow the rules and regulations provided.
If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is insured by them. The lending organization takes care of all the loaned money; the FHA simply backs the loan through mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are designed to assist low-to-moderate income homebuyers help meet credit requirements if they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the FHA provides are excessively helpful to buyers with less starting capital.