Need an appraisal for an FHA-backed mortgage? Call Parkway Appraisals
The FHA retains of approved appraisers for each state - Parkway Appraisals is on the roster of approved appraisers for NC. If you have an FHA-insured loan, be sure to call Parkway Appraisals, as we are approved and qualified to perform FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Parkway Appraisals is well-trained on how to follow the rules and regulations provided.
Contact us today if you need to get an appraisal done on an FHA-insured 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 loan, it means it is backed by them. None of the funds are provided by the FHA; what the FHA does is ensure that the loan is secure in case the borrower doesn't pay their loan. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and qualifications for lenders that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA provides are acutely beneficial to purchasers with less starting capital.