is New York state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do appraisal reports for house loans backed by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Bedinotti Associates is well-trained on how to follow the rules and regulations provided.
An FHA loan is backed by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD). The lender provides all the loaned money - the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are designed to benefit low-to-moderate income consumers by easing credit requirements. Remember, the FHA differs from the VA appraiser panel in that the lending organization can pick the appraiser. Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the Federal Housing Administration offers are lifesavers to buyers with less starting capital.