Need an appraisal for an FHA-backed mortgage? Call Holmes Appraisal ServiceHolmes Appraisal Service 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 reports for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Holmes Appraisal Service is well-trained on how to follow the rules and regulations provided. If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. 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 takes care of all the money in the loan; the FHA simply backs the loan by providing mortgage insurance in case the borrower defaults on his or her loan. Available to all buyers, FHA loan programs are built to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Purchasers with lesser income or less starting capital to put down on a mortgage are helped the most from Federal Housing Administration loan programs. |