Need an appraisal for an FHA-backed mortgage? Call JML Appraisal ServicesThe FHA maintains of approved appraisers for each state - JML Appraisal Services is on the roster of approved appraisers for MN. This indicates that we are certified and approved by the FHA to do reports for house loans backed by them. A portion of the continuing training our staff at JML Appraisal Services completes deals exclusively with understanding the FHA's documentation and their rules and procedures. Be sure to contact JML Appraisal Services if you need an appraisal done for an FHA-secured loan. 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 financial transaction is an FHA-insured loan, it means it is underwritten by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the mortgage is secure in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and necessities for lending agencies that 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 offers are exceedingly useful to consumers with less starting income. |