Need an appraisal for an FHA-backed mortgage? Call Preferred Appraisers, Inc.
We assure you that Preferred Appraisers, Inc. is an FHA-approved appraisal company in NJ. Preferred Appraisers, Inc. is qualified and approved to do appraisal reports for FHA secured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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.
If your house loan is FHA insured, 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 FHA does not loan money to borrowers, rather, it provides lending organizations with security by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Applicable to all consumers, FHA loan programs are designed to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration provides are excessively helpful to purchasers with less starting income.