Need an appraisal for an FHA-backed mortgage? Call Lora Alexander

Rest assured that Lora Alexander is an FHA-certified appraisal service in NC. This means that we are qualified and approved by the FHA to do appraisal reports for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Lora Alexander is well-trained on how to comply with the rules and regulations provided.

An FHA loan is backed 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 company takes care of all the finances; the FHA simply insures the transaction by providing 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 aid credit-worthy buyers to meet expectations and qualifications for lenders that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Consumers with lower income or less starting money to put down on a loan are assisted the most from FHA loan programs.