JML Appraisal Services is your FHA certified appraisal company
The FHA publishes a list 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 appraisals for home loans insured by them. Part of the ongoing training our staff at JML Appraisal Services receives deals precisely 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 loan is an FHA-insured loan, it means it is backed by them. The lending company takes care of all the money in the loan; the FHA simply secures the loan by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are formed to help low-to-moderate income consumers help meet credit qualifications 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 acutely helpful to consumers with less starting income.