Need an appraisal for an FHA-backed mortgage? Call Duncan Appraisals
Rest assured that Duncan Appraisals is an FHA-certified appraisal company in NJ. We are qualified 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.
Be sure to contact Duncan Appraisals if you need an appraisal done for an FHA-secured loan.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-secured loan, it means it is insured by them. No part of the loan is provided by the FHA; what the FHA does is ensure that the loan is secure in case the borrower doesn't pay their loan. Low-income and moderate-income consumers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and qualifications 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. Purchasers with lesser income or less starting capital to use as a down-payment on a loan are helped the most from FHA loan programs.
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