Eastern Appraisal Services, Inc.

Eastern Appraisal Services, Inc. is RI state certified and on the FHA Roster of approved residential appraisers. This means that we are certified and approved by the FHA to do reports for property loans backed by them. A certain amount of the regular training our staff at Eastern Appraisal Services, Inc. undergoes deals precisely with decoding the FHA's documentation and their rules and procedures.

If your house loan is FHA certified, that means that it has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lending organizations with safety by offering mortgage insurance in case the borrower does not pay his or her loan obligations. Low-income and moderate-income homebuyers benefit from an FHA-backed loan; the point of the Federal Housing Administration is to aid credit-worthy consumers to meet expectations and qualifications for lending organizations that they otherwise would not.

Down payments are often lower with an FHA loan despite using conventional market rates. The loan programs that the FHA provides are excessively helpful to buyers with less starting capital.