Need an appraisal for an FHA-backed mortgage? Call Duncan AppraisalsRest assured that Duncan Appraisals is an FHA-certified appraisal practice in NJ. This indicates that we are certified and approved by the FHA to do reports for house loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Contact us today if you need to get an appraisal done on an FHA-insured loan. If your house loan is FHA certified, that means that it has been secured by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lenders with safety through mortgage insurance in case the borrower defaults on his or her financial obligations. Applicable to all buyers, FHA loan programs are created to help credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans. 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 lower income or less starting funds to put down on a loan are assisted the most from FHA loan programs. |
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