Prestige Appraisal, LLCPrestige Appraisal, LLC is NC state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do reports for property loans backed by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Prestige Appraisal, LLC is well-trained on how to work in accordance with the rules and regulations provided. Be sure to contact Prestige Appraisal, LLC if you need an appraisal done for an FHA-secured loan. An FHA loan is secured 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 company provides all the finances; the FHA simply backs the loan with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-backed financial transaction; the point of the Federal Housing Administration is to cooperate with credit-worthy potential buyers to meet expectations and qualifications for lending agencies 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. FHA loan programs are extremely useful to those consumers with less available cash. |