is New Jersey state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured loan, be sure to contact Rudin Appraisals, as we are approved and qualified to perform FHA reports.
Part of the ongoing training our staff at Rudin Appraisals undergoes deals strictly with comprehending the FHA's documentation and their rules and procedures.
An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD).
No part of 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.
Applicable to all buyers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA is different from the VA appraiser panel in that the lending agency can 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.
Purchasers with lower incomes or less starting funds to put down on a mortgage are helped the most from FHA loan programs.
