The FHA retains a list of approved appraisers for each state - G.C. Appraisals, Inc. is on the roster of approved appraisers for New York.
G.C. Appraisals, Inc. is qualified and approved to do appraisal reports for FHA secured financial transactions.
FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at G.C. Appraisals, Inc. is well-trained on how to follow 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 loan, it means it is backed by them.
None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is insured in case the borrower doesn't pay their loan.
Accessible to all purchasers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember, the FHA differs from the VA appraiser panel in that the lender can pick the appraisal company.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Purchasers with lesser incomes or less starting money to put down on a mortgage are assisted the most from Federal Housing Administration loan programs.
