Need an appraisal for an FHA-backed mortgage? Call Porter Place Appraisals

Rest assured that Porter Place Appraisals is an FHA-certified appraisal company in NJ. If you have an FHA-loan, be sure to hire Porter Place Appraisals, as we are approved and qualified to perform FHA reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Porter Place Appraisals is well-trained on how to comply with the rules and regulations provided.

The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is underwritten by them. The FHA does not loan capital to borrowers, rather, it provides lending organizations with protection with mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income consumers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to help credit-worthy buyers to meet expectations and necessities for lending organizations that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are acutely useful to consumers with less starting capital.