Patrick E O'ConnorPatrick E O'Connor is NY state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured loan, be sure to get with Patrick E O'Connor, as we are approved and qualified to perform FHA appraisal reports. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Patrick E O'Connor is well-trained on how to work in accordance with the rules and regulations provided. If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. An FHA loan is backed by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). None of the money in the loan is provided by the FHA; what the FHA does is ensure that the loan is taken care of in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are created to benefit low-to-moderate income homebuyers 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. FHA loan programs are particularly beneficial to those homebuyers with less available starting capital. |