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 appraisal reports for house loans insured by them.
Part of the regular training our staff at Alta Appraisal, L.L.C. (732) 998-8705 undergoes deals exclusively with decoding the FHA's documentation and their rules and procedures.
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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. |
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An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan funds to borrowers. Rather, it provides lenders with safety with mortgage insurance in case the borrower does not pay his or her loan obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lending agency approving a loan backed by the Federal Housing Administration is able to choose their appraisers, different from VA appraisal panel.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are particularly helpful to those consumers with less accessible funding.