James Earp Appraisal ServiceJames Earp Appraisal Service 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 appraisal reports for property loans insured by them. Part of the continuing training our staff at James Earp Appraisal Service completes deals strictly with understanding the FHA's documentation and their rules and procedures. If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is insured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lender provides all the loaned money; the FHA simply secures the loan by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and qualifications for lending agencies that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lesser income or less starting funds to put down on a mortgage are assisted the most from FHA loan programs. |