The FHA publishes a roster of approved appraisers for each state - Lakeside Appraisals is on the roster of approved appraisers for North Carolina.
This means that we are qualified and approved by the FHA to do appraisal reports for house loans backed by them.
A certain amount of the continuing training our staff at Lakeside Appraisals receives deals precisely with decoding the FHA's documentation and their rules and procedures.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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The FHA is the Federal Housing Administration, which is a federal agency 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.
The FHA does not loan funds to borrowers. Rather, it provides lending agencies with protection with mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are built to aid low-to-moderate income consumers by easing credit requirements.
Unlike the VA appraiser panel, the lending organization working with Federal Housing Administration has the ability to choose the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Those with lower incomes or less starting capital to use as a down-payment on a loan are helped the most from FHA loan programs.