Parkway Appraisals is approved for FHA mortgages
The FHA maintains of approved appraisers for each state - Parkway Appraisals is on the roster of approved appraisers for NC. If you have an FHA-insured loan, be sure to contact Parkway Appraisals, as we are approved and certified to handle FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Parkway Appraisals is well-trained on how to work in accordance with the rules and regulations provided.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the loaned money; the FHA simply backs the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to help credit-worthy potential 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. FHA loan programs are extremely helpful to those purchasers with less available cash.