Need an appraisal for an FHA-backed mortgage? Call Cromartie Appraisal ServiceWe are happy to say that Cromartie Appraisal Service is an FHA-certified appraisal firm in SC. This means that we are qualified and approved by the FHA to do reports for house loans backed by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Cromartie Appraisal Service is well-trained on how to follow the rules and regulations provided. If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. If your house loan is FHA certified, that means that the loan has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lenders with protection through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and qualifications 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 Federal Housing Administration provides are extremely helpful to consumers with less starting capital. |