First National BankThe FHA keeps a roster of approved appraisers for each state - First National Bank is on the roster of approved appraisers for AR. If you have an FHA-secured loan, be sure to get with First National Bank, as we are approved and certified to handle FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at First National Bank is well-trained on how to follow the rules and regulations provided. Be sure to contact First National Bank if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is secured by them. The FHA does not provide funds to borrowers, rather, it provides lending agencies with protection through mortgage insurance in case the borrower does not pay his or her loan obligations. Available to all purchasers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. Down payments are often lower with an FHA loan despite using conventional market rates. Consumers with lower income or less starting capital to put down on a mortgage are helped the most from FHA loan programs. |