Port City Consultants is available for your FHA loans

Port City Consultants is NY state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisals for home loans backed by them. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Port City Consultants is well-trained on how to comply with the rules and regulations provided.

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 loan is an FHA loan, it means it is secured by them. None of the money in the loan is provided by the FHA; what the FHA does is make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-secured financial transaction; the purpose of the Federal Housing Administration is to assist credit-worthy potential buyers to meet expectations and necessities for lenders 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. The loan programs that the Federal Housing Administration offers are incredibly beneficial to buyers with less starting income.