Need an appraisal for an FHA-backed mortgage? Call Lincoln Appraisal ServicesWe are happy to say that Lincoln Appraisal Services is an FHA-approved appraisal provider in NY. This indicates that we are certified and approved by the FHA to do appraisal reports for property loans backed by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents. If you need 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 agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is backed by them. The FHA does not provide funds to borrowers, rather, it provides lenders with safety with mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to cooperate with credit-worthy consumers 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 lower income or less starting capital to use as a down-payment on a mortgage are assisted the most from FHA loan programs. |