Preferred Appraisers, Inc. is your FHA certified appraisal companyWe confidently state that Preferred Appraisers, Inc. is an FHA-approved appraisal firm in NJ. This indicates that we are qualified and approved by the FHA to do reports for house loans insured by them. A certain amount of the periodic training our staff at Preferred Appraisers, Inc. receives deals precisely with decoding the FHA's documentation and their rules and procedures. If you're in need of an report for an FHA loan, please contact us, and we'll be able to help you right away. 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 loan, it means it is backed by them. None of the funds are provided by the FHA; what the FHA does is ensure that the mortgage is taken care of in case the borrower doesn't pay their loan. The FHA and their loan programs are formed to benefit low-to-moderate income homebuyers help meet credit requirements if they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are particularly useful to those buyers with less accumulated funding. |