Need an appraisal for an FHA-backed mortgage? Call CN Appraisals

The FHA publishes a list of approved appraisers for each state - CN Appraisals is on the roster of approved appraisers for NJ. CN Appraisals is qualified and approved to do appraisals for FHA secured loans. A portion of the continuing training our staff at CN Appraisals undergoes deals precisely with comprehending the FHA's documentation and their rules and procedures.

If your house loan is FHA certified, that means that it has been guaranteed by the FHA, which is a branch of the United States Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with security with mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and qualifications for lenders that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly useful to those homebuyers with less available starting capital.