PSM Appraisals, LLC is approved for FHA loansRest assured that PSM Appraisals, LLC is an FHA-approved appraisal provider in NY. If you have an FHA-secured loan, be sure to hire PSM Appraisals, LLC, as we are approved and certified to produce FHA reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at PSM Appraisals, LLC is well-trained on how to work in accordance with the rules and regulations provided. 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-secured loan, it means it is underwritten by them. The FHA does not loan funds to borrowers, rather, it provides lenders with safety through mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to help credit-worthy consumers to meet expectations and qualifications for lending agencies that they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. Buyers with lesser income or less starting capital to use as a down-payment on a mortgage are helped the most from FHA loan programs. |