Ryder Appraisals is available for your FHA backed loans

We are happy to say that Ryder Appraisals is an FHA-approved appraisal firm in NY. If you have an FHA-insured loan, be sure to contact Ryder Appraisals, as we are approved and certified to produce FHA reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Ryder Appraisals is well-trained on how to comply with the rules and regulations provided.

The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-secured loan, it means it is backed by them. The FHA does not loan funds to borrowers, rather, it provides lenders with protection through mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income borrowers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and qualifications for lending organizations that they otherwise would not.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are incredibly useful to consumers with less starting income.