Need an appraisal for an FHA-backed mortgage? Call Petty AppraisalsPetty Appraisals is NC state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisal reports for home loans underwritten by them. A certain amount of the continuing training our staff at Petty Appraisals completes deals exclusively with comprehending the FHA's documentation and their rules and procedures. Be sure to contact Petty Appraisals if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is backed by them. The lending company provides all the money in the loan; the FHA simply secures the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and qualifications for lending agencies that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are extremely helpful to those buyers with less available starting capital. |