Need an appraisal for an FHA-backed mortgage? Call Leonard Appraisal Services, LLCLeonard Appraisal Services, LLC is New Jersey state certified and on the FHA Roster of approved residential appraisers. Leonard Appraisal Services, LLC is certified and approved to do appraisals for FHA insured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is insured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers. Rather, it provides lenders with protection with mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to aid credit-worthy families and individuals get approved for mortgages that they otherwise would not. Unlike the VA appraiser panel, the lender working with Federal Housing Administration is allowed to choose the appraiser. Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the Federal Housing Administration offers are invaluable to purchasers with minimal starting income. |
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