Need an appraisal for an FHA-backed mortgage? Call JML Appraisal ServicesThe FHA publishes a list of approved appraisers for each state - JML Appraisal Services is on the roster of approved appraisers for MN. We're qualified and approved to do reports for FHA secured loans. A certain amount of the continuing training our staff at JML Appraisal Services undergoes 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 organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA loan, it means it is underwritten by them. The FHA does not provide funds to borrowers, rather, it provides lending agencies with safety with mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income consumers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and qualifications 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 incredibly useful to purchasers with less starting capital. |