Need an appraisal for an FHA-backed mortgage? Call Preferred Appraisers, Inc.

The FHA keeps a roster of approved appraisers for each state - Preferred Appraisers, Inc. is on the roster of approved appraisers for NJ. This means that we are qualified and approved by the FHA to do appraisals for house loans underwritten by them. A portion of the ongoing training our staff at Preferred Appraisers, Inc. completes deals strictly with decoding the FHA's documentation and their rules and procedures.

Contact us today if you need to get an appraisal done on an FHA-insured loan.

If your financial transaction is FHA approved, that means that it has been secured by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The lending organization takes care of all the money in the loan; the FHA simply backs the loan by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are created to aid low-to-moderate income homebuyers help meet credit expectations if they otherwise would not.

Down payments are often lower with an FHA loan despite using conventional market rates. Purchasers with lower income or less starting money to use as a down-payment on a loan benefit the most from FHA loan programs.