is Montana state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are qualified and approved by the FHA to do appraisals for property loans underwritten by them.
Part of the ongoing training our staff at JCB Appraisal Service undergoes deals strictly with understanding the FHA's documentation and their rules and procedures.
An FHA loan is secured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not provide funds to borrowers. Rather, it provides lending agencies with security through mortgage insurance in case the borrower defaults on his or her loan obligations.
Available to all buyers, FHA loan programs are formed to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember that the lending agency approving a loan backed by the Federal Housing Administration is able to select the appraisal company with which they'll work, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
Purchasers with lower incomes or less starting capital to use as a down-payment on a mortgage are helped the most from FHA loan programs.