Need an appraisal for an FHA-backed mortgage? Call Duncan AppraisalsRest assured that Duncan Appraisals is an FHA-approved appraisal provider in NJ. This indicates that we are qualified and approved by the FHA to do reports for home loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Duncan Appraisals is well-trained on how to follow the rules and regulations provided. Be sure to contact Duncan Appraisals if you need an appraisal done for an FHA-secured loan. An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending company takes care of all the money in the loan; the FHA simply secures the loan by providing mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to help credit-worthy buyers to meet expectations and requirements for lending agencies that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Those with lower income or less starting capital to use as a down-payment on a mortgage benefit the most from Federal Housing Administration loan programs. |
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