Bear Rock Appraisal is your FHA certified appraisal companyBear Rock Appraisal is NY state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured mortgage, be sure to hire Bear Rock Appraisal, as we are approved and certified to perform FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact Bear Rock Appraisal if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is insured by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and necessities for lending organizations that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Consumers with lower income or less starting capital to use as a down-payment on a mortgage benefit the most from FHA loan programs. |