Need an appraisal for an FHA-backed mortgage? Call James Earp Appraisal ServiceJames Earp Appraisal Service is NC state certified and on the FHA Roster of approved residential appraisers. We are certified and approved to do reports for FHA secured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. If you need 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 guaranteed by the FHA, which is part of the United States Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is taken care of in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and requirements for lending organizations 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 lower income or less starting capital to use as a down-payment on a financial transaction are assisted the most from Federal Housing Administration loan programs. |