Need an appraisal for an FHA-backed mortgage? Call Special Appraisal ServicesRest assured that Special Appraisal Services is an FHA-approved appraisal practice in NY. We're qualified and approved to do appraisal reports for FHA secured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Special Appraisal Services if you need an appraisal done for an FHA-secured loan. An FHA loan is insured by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD). None of the funds are provided by the FHA; what the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-secured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy buyers to meet expectations and requirements for lending agencies that they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Buyers with lesser income or less starting funds to put down on a mortgage are assisted the most from FHA loan programs. |