Jerry Burrows AppraisalJerry Burrows Appraisal is OK state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do appraisals for property loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Jerry Burrows Appraisal 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 financial transaction is an FHA-secured loan, it means it is insured by them. The lending organization takes care of all the loaned money; the FHA simply secures the loan through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and qualifications for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Those with lower income or less starting funds to put down on a loan are helped the most from FHA loan programs. |