Record Appraisals, IncRest assured that Record Appraisals, Inc is an FHA-approved appraisal service in NY. This means that we are certified and approved by the FHA to do appraisal reports for property loans insured by them. A portion of the regular training our staff at Record Appraisals, Inc receives deals strictly with decoding the FHA's documentation and their rules and procedures. Be sure to contact Record Appraisals, Inc if you need an appraisal done for an FHA-secured loan. If your house loan is FHA insured, that means that the loan has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The lending company takes care of all the money in the loan; the FHA simply secures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are built to benefit low-to-moderate income consumers help meet credit qualifications if they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Consumers with lower income or less starting funds to put down on a financial transaction benefit the most from Federal Housing Administration loan programs. |