Need an appraisal for an FHA-backed mortgage? Call Herrin Appraisal Company
Rest assured that Herrin Appraisal Company is an FHA-certified appraisal service in NC. This means that we are qualified and approved by the FHA to do reports for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Herrin Appraisal Company is well-trained on how to work in accordance with the rules and regulations provided.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
If your house loan is FHA insured, that means that it has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending organizations with safety 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 loan; the point of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and qualifications for lenders 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 excessively useful to consumers with less starting capital.
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