The FHA maintains a list of approved appraisers for each state - Appraisal Associates of Metrolina, Inc. is on the roster of approved appraisers for North Carolina.
We are qualified and approved to do reports for FHA secured loans.
A certain amount of the continuing training our staff at Appraisal Associates of Metrolina, Inc. completes deals exclusively with understanding the FHA's documentation and their rules and procedures.
An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan money to borrowers. Rather, it provides lending organizations with safety with mortgage insurance in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are designed to benefit low-to-moderate income purchasers by easing credit expectations.
Remember, the FHA deviates from the VA appraiser panel in that the lender can pick the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly helpful to those purchasers with less accessible funding.
