Herrin Appraisal Company is your FHA certified appraisal company
We are happy to say that Herrin Appraisal Company is an FHA-approved appraisal firm in NC. If you have an FHA-secured mortgage, be sure to hire Herrin Appraisal Company, as we are approved and qualified to produce FHA appraisals. A portion of the periodic training our staff at Herrin Appraisal Company undergoes deals exclusively with decoding the FHA's documentation and their rules and procedures.
If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with protection by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income homebuyers 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 necessities 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. Those with lower income or less starting capital to put down on a loan are assisted the most from FHA loan programs.
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