New Jersey House Appraisal Services for FHA Loans
Do you need an appraisal for an FHA-backed mortgage? The FHA maintains a list of approved appraisers for each state – Pinelands Appraisal, Inc. is on the roster of approved appraisers for New Jersey. This means that we are certified and approved by the FHA to do appraisals for property loans insured by them. FHA’s guidelines, documentation and policies may seem difficult to comprehend, but the staff at Pinelands Appraisal, Inc. is well-trained on how to follow the rules and regulations provided.
About FHA Loans
An FHA home 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 funds to borrowers. Rather, it provides lenders with security through mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income home buyers benefit the most from FHA-backed loan programs. The point of the Federal Housing Administration is to help credit-worthy consumers get approved for mortgages that they otherwise would not. Remember, the FHA differs from the VA appraiser panel in that the lender can pick the appraisal company.