First Choice Appraisals is available for your FHA appraisalsFirst Choice Appraisals is NC state certified and on the FHA Roster of approved residential appraisers. We're qualified and approved to do appraisals for FHA insured financial transactions. Part of the ongoing training our staff at First Choice Appraisals undergoes deals precisely with understanding the FHA's documentation and their rules and procedures. Be sure to contact First Choice Appraisals if you need an appraisal done for an FHA-secured loan. 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-secured loan, it means it is backed by them. The lending organization provides all the money in the loan; the FHA simply insures the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and requirements for lending organizations that they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the FHA provides are excessively beneficial to consumers with less starting capital. |