Need an appraisal for an FHA-backed mortgage? Call Us
Paul McManus is PA & NJ state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do appraisal reports for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff is well-trained on how to comply with the rules and regulations provided.
Be sure to contact us if you need an appraisal done for an FHA-secured loan.
If your loan is FHA approved, that means that it has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The lender provides all the finances; the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. Accessible to all purchasers, FHA loan programs are built to assist 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. Consumers with lower income or less starting money to put down on a mortgage are helped the most from Federal Housing Administration loan programs.