Need an appraisal for an FHA-backed mortgage? Call Herrin Appraisal CompanyHerrin Appraisal Company is NC state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do reports for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Herrin Appraisal Company if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is backed by them. The lending organization provides all the money in the loan; the FHA simply insures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and qualifications for lending agencies 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. Purchasers with lesser income or less starting capital to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs. |
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