Need an appraisal for an FHA-backed mortgage? Call Prumo Appraisal ServiceWe confidently state that Prumo Appraisal Service is an FHA-approved appraisal provider in NY. If you have an FHA-secured loan, be sure to call Prumo Appraisal Service, as we are approved and certified to produce FHA reports. A portion of the continuing training our staff at Prumo Appraisal Service undergoes deals precisely with understanding the FHA's documentation and their rules and procedures. Be sure to contact Prumo Appraisal Service if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is underwritten by them. The lending organization provides all the money in the loan; the FHA simply secures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the purpose of the Federal Housing Administration is to aid 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. FHA loan programs are particularly beneficial to those consumers with less accessible funding. |