What is FHA Mortgage Insurance? For the homebuyer, FHA-insured loans offer competitive rates, smaller downpayments, greater flexibility in calculating household income and payment ratios, and protection requirements against foreclosures. For lenders our mortgage insurance protects lenders against loss if the homeowner defaults on his or her mortgage loan. While FHA insured-loans must meet certain requirements established by FHA to qualify for the insurance, lenders bear less risk because FHA will pay the lender if a homeowner defaults on on his or her loan.
Why does FHA Mortgage Insurance exist?
Unlike conventional loans, FHA-insured loans require small down payments. There is more flexibility in an FHA loan than conventional loans in calculating household income and payment ratios. The cost of the mortgage insurance is passed along to the homeowner and typically is included in the monthly payment. For more information visit: http://portal.hud.gov/portal/page?_pageid=73,1828
Appraisers in Charlotte NC understand FHA rules and regulations. Charlotte appraiser are up to date with the ever changing guidelines to ensure the appraisal meets FHA guidelines. For more information on appraisers in Charlotte, please vist the following websites for more information www.valuation-expert.com www.charlotte-appraiser.net and www.appraisercharlottenc.com
Saturday, March 7, 2009
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