Need an appraisal for an FHA-backed mortgage? Call DRA Appraisals, Inc

The FHA retains of approved appraisers for each state - DRA Appraisals, Inc is on the roster of approved appraisers for NC. DRA Appraisals, Inc is qualified and approved to do reports for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at DRA Appraisals, Inc is well-trained on how to comply with the rules and regulations provided.

If your loan is FHA insured, that means that the loan has been secured by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD). The lender takes care of all the finances; the FHA simply insures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and necessities for lending organizations that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lesser income or less starting funds to put down on a loan benefit the most from Federal Housing Administration loan programs.