New York Appraisal can do FHA backed loansNew York Appraisal is NY state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisals for property loans insured by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Contact us today if you need to get an appraisal done on an FHA-insured loan. An FHA loan is underwritten by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lender provides all the loaned money; the FHA simply secures the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Available to all consumers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly useful to those consumers with less accessible cash. |