R. Jared Bonner (A7012) (our Chief Appraiser) is North Carolina state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisal reports for property loans insured by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at ValPros is well-trained on how to comply with the rules and regulations provided.
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Be sure to contact ValPros if you need an appraisal done for an FHA-secured loan. |
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If your house loan is FHA approved, that means that the loan has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The lending organization provides all the financing - the FHA simply secures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy families and individuals get approved for mortgages that they otherwise would not. Remember that the lender approving a loan backed by the Federal Housing Administration is able to select which appraisers they will use, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are incredibly helpful to those consumers with less available cash.
