Need an appraisal for an FHA-backed mortgage? Call Parkway Appraisals
Parkway Appraisals is NC state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do reports for home loans backed by them. A portion of the ongoing training our staff at Parkway Appraisals undergoes deals strictly with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Parkway Appraisals if you need an appraisal done for an FHA-secured loan.
An FHA loan is secured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is ensure that the mortgage is paid for in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and requirements for lending organizations that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are particularly beneficial to those consumers with less accessible cash.