Need an appraisal for an FHA-backed mortgage? Call Brickhouse Appraisals, LLC,Brickhouse Appraisals, LLC, is New York state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-secured mortgage, be sure to contact Brickhouse Appraisals, LLC,, as we are approved and qualified to perform FHA reports. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Brickhouse Appraisals, LLC, is well-trained on how to comply with the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is paid for in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are built to help low-to-moderate income buyers by easing credit requirements. Remember that the lending organization working with the the Federal Housing Administration is permitted to select which appraisers they will use, different from VA appraisal panel.Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. FHA loan programs are extremely beneficial to those buyers with less accumulated cash.