Need an appraisal for an FHA-backed mortgage? Call Smithson AppraisalWe are happy to say that Smithson Appraisal is an FHA-approved appraisal firm in OK. This indicates that we are certified and approved by the FHA to do reports for home loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Smithson Appraisal if you need an appraisal done for an FHA-secured loan. An FHA loan is underwritten by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the money in the loan; the FHA simply backs the loan by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and requirements for lending organizations 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 Federal Housing Administration offers are incredibly useful to consumers with less starting capital. |