James Earp Appraisal Service is your FHA certified appraisal companyJames Earp Appraisal Service is NC state certified and on the FHA Roster of approved residential appraisers. We're certified and approved to do appraisal reports for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away. If your house loan is FHA approved, that means that it has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with security with mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and necessities for lenders that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lesser income or less starting funds to use as a down-payment on a loan benefit the most from FHA loan programs. |