Home Appraisals of Central New Jersey is your FHA certified appraisal companyRest assured that Home Appraisals of Central New Jersey is an FHA-certified appraisal provider in NJ. We're qualified and approved to do appraisal reports for FHA secured financial transactions. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Contact us today if you need to get an appraisal done on an FHA-insured loan. If your financial transaction is FHA insured, that means that it has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The lending organization provides all the money in the loan; the FHA simply backs the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and requirements for lending agencies that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly helpful to those consumers with less accumulated funding. |