PSM Appraisals, LLC
PSM Appraisals, LLC is NY state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do appraisals for property loans underwritten by them. Part of the periodic training our staff at PSM Appraisals, LLC undergoes deals precisely with comprehending the FHA's documentation and their rules and procedures.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA loan, it means it is insured by them. None of the money in the loan is provided by the FHA; what the FHA does is make sure that the mortgage is secure in case the borrower defaults on his or her loan obligations. Accessible to all purchasers, FHA loan programs are formed to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration provides are acutely beneficial to buyers with less starting capital.