Need an appraisal for an FHA-backed mortgage? Call Herrin Appraisal CompanyRest assured that Herrin Appraisal Company is an FHA-approved appraisal firm in NC. Herrin Appraisal Company is certified and approved to do appraisals for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Contact us today if you need to get an appraisal done on an FHA-insured loan. If your home loan is FHA approved, that means that the loan has been secured by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-backed financial transaction; the point of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and qualifications for lending organizations that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lower income or less starting funds to put down on a loan are assisted the most from FHA loan programs. |
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