Need an appraisal for an FHA-backed mortgage? Call JML Appraisal Services
JML Appraisal Services is MN state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do reports for house loans insured by them. A certain amount of the ongoing training our staff at JML Appraisal Services receives deals exclusively with understanding the FHA's documentation and their rules and procedures.
If you're in need of 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-secured loan, it means it is insured by them. No part of the loan is provided by the FHA; what the FHA does is ensure that the loan is secure in case the borrower defaults on 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 have the qualifications for conventional loans.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly useful to those homebuyers with less accessible starting capital.