Rest assured that William Newcomb is an FHA-approved appraisal provider in New Jersey.
If you have an FHA-insured loan, be sure to call William Newcomb, 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.
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If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD).
None of the money in the loan is provided by the FHA. What the FHA does is make sure that the loan is paid for in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lender working with Federal Housing Administration actually has the freedom to choose the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
FHA loan programs are extremely useful to those buyers with less accessible starting capital.