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 Thousand Islands Appraisals, as we are approved and certified to perform FHA reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your home 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 FHA does not loan funds to borrowers. Rather, it provides lending organizations with safety with mortgage insurance in case the borrower does not pay his or her loan obligations.
Available to all buyers, FHA loan programs are created to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Different from the VA appraiser panel, the lender working with Federal Housing Administration is allowed to choose the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA loan programs are particularly useful to those buyers with less available cash.
