Need an appraisal for an FHA-backed mortgage? Call N. J. Monastero & Associates

N. J. Monastero & Associates is NY state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured loan, be sure to hire N. J. Monastero & Associates, as we are approved and certified to handle FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

If your property loan is FHA certified, that means that the loan has been secured by the FHA, which is part of the United States Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending organizations with protection through mortgage insurance in case the borrower does not pay his or her loan obligations. Accessible to all consumers, FHA loan programs are created to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. Those with lower income or less starting money to use as a down-payment on a mortgage are helped the most from FHA loan programs.