AC Appraisal International, Ltd. can do FHA appraisalsThe FHA keeps a list of approved appraisers for each state - AC Appraisal International, Ltd. is on the roster of approved appraisers for New York. This indicates that we are qualified and approved by the FHA to do appraisal reports for property loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your home loan is FHA approved, that means that the loan has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers. Rather, it provides lenders with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not. Remember that the lender working with the the FHA is authorized to choose their appraisers, different from VA appraisal panel. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Purchasers with lower incomes or less starting capital to put down on a financial transaction are assisted the most from Federal Housing Administration loan programs. |
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