Burrell Appraisal Services, LLC can do FHA backed loansThe FHA maintains of approved appraisers for each state - Burrell Appraisal Services, LLC is on the roster of approved appraisers for OK. This indicates that we are qualified and approved by the FHA to do appraisals for property loans underwritten by them. A certain amount of the ongoing training our staff at Burrell Appraisal Services, LLC completes deals strictly with understanding the FHA's documentation and their rules and procedures. Be sure to contact Burrell Appraisal Services, LLC 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-secured loan, it means it is insured by them. The FHA does not loan money to borrowers, rather, it provides lenders with protection through mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and qualifications for lending agencies that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lower income or less starting capital to use as a down-payment on a loan benefit the most from FHA loan programs. |