Need an appraisal for an FHA-backed mortgage? Call Herrin Appraisal Company
We assure you that Herrin Appraisal Company is an FHA-certified appraisal practice in NC. This means that we are certified and approved by the FHA to do appraisals for house loans backed by them. 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.
An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending organizations with safety through mortgage insurance in case the borrower defaults on his or her financial obligations. The FHA and their loan programs are created to benefit low-to-moderate income consumers help meet credit requirements if 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. FHA loan programs are particularly useful to those buyers with less available funding.
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