Prestige Appraisal, LLC can do FHA loans
The FHA keeps a roster of approved appraisers for each state - Prestige Appraisal, LLC is on the roster of approved appraisers for NC. This means that we are qualified and approved by the FHA to do reports for home loans insured by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Prestige Appraisal, LLC 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 backed by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lenders with safety with mortgage insurance in case the borrower does not pay his or her financial obligations. Accessible to all purchasers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Buyers with lesser income or less starting capital to put down on a financial transaction benefit the most from FHA loan programs.