Need an appraisal for an FHA-backed mortgage? Call New York Appraisers
New York Appraisers is New York state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured loan, be sure to contact New York Appraisers, 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 New York Appraisers is well-trained on how to comply with the rules and regulations provided.
If you’re in need of an appraisal report for an FHA loan, please contact us, and we’ll be able to help you right away.
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-insured loan, it means it is secured by them. None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is paid for in case the borrower defaults on his or her loan obligations. Applicable to all consumers, FHA loan programs are created to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans. Remember, the FHA deviates from the VA appraiser panel in that the lender can pick the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates. Purchasers with lesser incomes or less starting funds to use as a down-payment on a loan are assisted the most from Federal Housing Administration loan programs.