is New Jersey state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-loan, be sure to hire Bob Warncke Appraisal Group, as we are approved and certified to handle FHA reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
If your home loan is FHA insured, that means that it has been guaranteed by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD).
The lending company takes care of all the money in the loan - the FHA simply backs the transaction by providing mortgage insurance in case the borrower does not pay off his or her loan.
Applicable to all buyers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember that the lending organization approving a loan backed by the Federal Housing Administration is able to choose which appraisers they will use, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lower incomes or less starting capital to put down on a loan benefit the most from Federal Housing Administration loan programs.