Before an FHA loan application can be approved, there must be an FHA appraisal performed on the subject property by a FHA-approved appraiser. FHA appraisals work a little different than conventional loan appraisals because they factor in more things that could affect the health of the borrowers, and it’s not up to the applicant to pick the FHA appraiser. Instead, strict rules provide for the appraiser to be randomly chosen by the lender. That doesn’t mean that the lender or applicant can’t learn a little more about the appraiser if they want. You can research the FHA appraiser roster across the U.S. through the links below.
County Name | Area | 1-Unit | 2-Unit | 3-Unit | 4-Unit |
---|---|---|---|---|---|
DISTRICT OF COL | WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV | $765,600 | $980,325 | $1,184,925 | $1,472,550 |
By definition, a Conventional Loan is any mortgage that’s not guaranteed or insured by the federal government. North Carolina conventional loans may be either “conforming” and “non-conforming”, although ‘conventional loans’ generally refer to ‘conforming loans’. Therefore North Carolina conventional loan limits are the same thing as North Carolina conforming loan limits. Read More
Since the housing crisis of 2008, the phrase “subprime loan” has become the moral equivalent of a four-letter word, an indication of all that goes wrong when risky, irresponsible home loans for bad credit become commonplace. Read More