Need an appraisal for an FHA-backed mortgage? Call J. Boyles Appraisals, LLC
The FHA publishes a list of approved appraisers for each state - J. Boyles Appraisals, LLC is on the roster of approved appraisers for CT. This means that we are certified and approved by the FHA to do appraisal reports for property loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
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-secured loan, it means it is backed by them. The lender takes care of all the money in the loan; the FHA simply insures the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are created to benefit low-to-moderate income consumers help meet credit expectations if 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 Federal Housing Administration provides are acutely useful to purchasers with less starting capital.