Need an appraisal for an FHA-backed mortgage? Call Lex Appraisals

Rest assured that Lex Appraisals is an FHA-approved appraisal practice in NY. This indicates that we are certified and approved by the FHA to do appraisal reports for home loans insured by them. A portion of the regular training our staff at Lex Appraisals completes deals exclusively with comprehending the FHA's documentation and their rules and procedures.

Be sure to contact Lex Appraisals 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 financial transaction is an FHA-insured loan, it means it is secured by them. The lending organization provides all the finances; the FHA simply insures the transaction with mortgage insurance in case the borrower does not pay off his or her loan. Available to all buyers, FHA loan programs are made to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

Down payments are often lower with an FHA loan despite using conventional market rates. Those with lesser income or less starting money to use as a down-payment on a loan benefit the most from FHA loan programs.