is New Jersey state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are certified and approved by the FHA to do appraisals for property loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-insured loan, it means it is insured by them.
The lending organization takes care of all the loaned money - the FHA simply insures the loan by providing mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are formed to benefit low-to-moderate income consumers by easing credit requirements.
Unlike the VA appraiser panel, the lender working with Federal Housing Administration has the freedom to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lesser incomes or less starting money to use as a down-payment on a loan are assisted the most from Federal Housing Administration loan programs.
