PSM Appraisals, LLC is approved for FHA work
Rest assured that PSM Appraisals, LLC is an FHA-approved appraisal service in NY. We are certified and approved to do reports for FHA secured financial transactions. A certain amount of the regular training our staff at PSM Appraisals, LLC receives deals precisely with understanding the FHA's documentation and their rules and procedures.
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending agencies with security through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-backed financial transaction; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and necessities for lending organizations that they otherwise would not.
Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA offers are acutely helpful to buyers with less starting income.