O'Hara Appraisals is approved for FHA mortgagesThe FHA publishes a list of approved appraisers for each state - O'Hara Appraisals is on the roster of approved appraisers for NJ. If you have an FHA-secured loan, be sure to contact O'Hara Appraisals, as we are approved and qualified to produce FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Be sure to contact O'Hara Appraisals if you need an appraisal done for an FHA-secured loan. An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization provides all the money in the loan; the FHA simply insures the loan with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to help credit-worthy potential buyers to meet expectations and necessities for lending organizations that they otherwise would not. 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 consumers with less accessible cash. |