is OK state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisal reports for property loans backed by them. A certain amount of the periodic training our staff at Metro Appraisal Ordering receives deals strictly with understanding the FHA's documentation and their rules and procedures.
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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 backed by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending agencies with protection through mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are designed to aid low-to-moderate income buyers help meet credit expectations if they otherwise would not. Different from the VA appraiser panel, the lending agency working with Federal Housing Administration has the permission to pick which appraisal firm they would like to work with.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly useful to those consumers with less available cash.