is Oklahoma state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-mortgage, be sure to contact James Appraisal Company, as we are approved and certified to perform FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers. Rather, it provides lending organizations with protection with mortgage insurance in case the borrower does not pay his or her loan obligations. Accessible to all purchasers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Different from the VA appraiser panel, the lending agency working with FHA actually has the ability to pick the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Purchasers with lower incomes or less starting funds to use as a down-payment on a loan benefit the most from FHA loan programs.