Need an appraisal for an FHA-backed mortgage? Call Preferred Appraisers, Inc.
Preferred Appraisers, Inc. is NJ state certified and on the FHA Roster of approved residential appraisers. We are certified 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 need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
If your home loan is FHA insured, that means that it has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending organizations with protection by offering mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income consumers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and requirements for lenders that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. Those with lower income or less starting capital to use as a down-payment on a loan benefit the most from FHA loan programs.