Montgomery Appraisers can do FHA backed loans

Montgomery Appraisers is NJ state certified and on the FHA Roster of approved residential appraisers. This means that we are qualified and approved by the FHA to do reports for home loans insured by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Montgomery Appraisers is well-trained on how to work in accordance 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). The lender takes care of all the loaned money; the FHA simply backs the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income borrowers benefit from an FHA-backed financial transaction; the point of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and requirements for lending agencies that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Buyers with lower income or less starting money to use as a down-payment on a loan are helped the most from FHA loan programs.