Need an appraisal for an FHA-backed mortgage? Call Parkway Appraisals
We are happy to say that Parkway Appraisals is an FHA-approved appraisal firm in NC. This indicates that we are certified and approved by the FHA to do appraisal reports for house loans underwritten by them. Part of the continuing training our staff at Parkway Appraisals receives deals exclusively with understanding the FHA's documentation and their rules and procedures.
If you're in need of an appraisal 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 organization that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the loan is insured in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are built to help low-to-moderate income purchasers 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 beneficial to those purchasers with less available cash.