The FHA maintains the rolls of approved appraisers for each state - Bernabe & Barnett Appraisals LLC is on the roster of approved appraisers for North Carolina.
This means that we are certified and approved by the FHA to do appraisals for home loans backed by them.
A portion of the periodic training our staff at Bernabe & Barnett Appraisals LLC receives deals strictly with decoding the FHA's documentation and their rules and procedures.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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If your loan is FHA insured, that means that it has been secured by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD).
The lending company provides all the funds being borrowed - the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are designed to help low-to-moderate income buyers by easing credit qualifications.
Remember that the lender working with the the Federal Housing Administration is permitted to pick the appraisal company with which they'll work, different from VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are particularly beneficial to those consumers with less accumulated funding.