Parkway Appraisals is approved for FHA loans
The FHA keeps a roster of approved appraisers for each state - Parkway Appraisals is on the roster of approved appraisers for NC. This indicates that we are qualified and approved by the FHA to do appraisal reports for property loans backed by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Parkway Appraisals is well-trained on how to comply with the rules and regulations provided.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
If your home loan is FHA insured, that means that the loan has been guaranteed by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending agencies with security with mortgage insurance in case the borrower does not pay his or her loan obligations. The FHA and their loan programs are created to benefit low-to-moderate income homebuyers help meet credit qualifications if they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration provides are acutely helpful to buyers with less starting income.