Need an appraisal for an FHA-backed mortgage? Call LOUIS FRAGALALOUIS FRAGALA is NY state certified and on the FHA Roster of approved residential appraisers. We are certified and approved to do appraisals for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at LOUIS FRAGALA is well-trained on how to follow the rules and regulations provided. Contact us today if you need to get an appraisal done on an FHA-insured loan. If your property loan is FHA certified, that means that it has been guaranteed by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD). The lender provides all the loaned money; the FHA simply insures the loan with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to aid credit-worthy potential buyers 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. The loan programs that the Federal Housing Administration provides are excessively helpful to buyers with less starting income. |