Gate City BankGate City Bank is ND state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-secured loan, be sure to hire Gate City Bank, as we are approved and certified to handle FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Gate City Bank is well-trained on how to follow the rules and regulations provided. Be sure to contact Gate City Bank if you need an appraisal done for an FHA-secured loan. If your house loan is FHA approved, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The lender takes care of all the finances; the FHA simply backs the loan by providing mortgage insurance in case the borrower does not pay off his or her loan. Available to all buyers, FHA loan programs are designed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. FHA loan programs are incredibly helpful to those consumers with less available starting capital. |