Need an appraisal for an FHA-backed mortgage? Call Bayside Appraisals

The FHA retains of approved appraisers for each state - Bayside Appraisals is on the roster of approved appraisers for NY. This indicates that we are qualified and approved by the FHA to do appraisal reports for home loans insured by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Bayside Appraisals is well-trained on how to comply with the rules and regulations provided.

An FHA loan is backed 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 takes care of all the money in the loan; the FHA simply backs the transaction by providing mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are designed to assist low-to-moderate income consumers help meet credit expectations if 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 FHA provides are incredibly useful to purchasers with less starting income.