Rest assured that Joseph A. Robb & Associates is an FHA-approved appraisal service in North Carolina.
This indicates that we are qualified and approved by the FHA to do appraisal reports for property loans underwritten by them.
A portion of the continuing training our staff at Joseph A. Robb & Associates completes deals exclusively with understanding the FHA's documentation and their rules and procedures.
An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD).
The lending organization provides all the funds being borrowed - the FHA simply secures the transaction through mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are built to help low-to-moderate income purchasers by easing credit expectations.
Unlike the VA appraiser panel, the lender working with Federal Housing Administration has the ability to pick the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Purchasers with lower incomes or less starting capital to use as a down-payment on a loan are assisted the most from FHA loan programs.
