Gene EganGene Egan is NY state certified and on the FHA Roster of approved residential appraisers. We are certified and approved to do appraisal reports for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Gene Egan is well-trained on how to comply with the rules and regulations provided. Be sure to contact Gene Egan 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 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 insured in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are created to assist low-to-moderate income purchasers help meet credit requirements if they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly beneficial to those purchasers with less accumulated starting capital. |