N.J. Picone & Associates, Inc.
We confidently state that N.J. Picone & Associates, Inc. is an FHA-approved appraisal company in OH. We're certified and approved to do reports for FHA insured financial transactions. A portion of the continuing training our staff at N.J. Picone & Associates, Inc. receives deals precisely with decoding the FHA's documentation and their rules and procedures.
Be sure to contact N.J. Picone & Associates, Inc. if you need an appraisal done for an FHA-secured loan.
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 financial transaction is an FHA-secured loan, it means it is backed by them. The FHA does not provide funds to borrowers, rather, it provides lending agencies with protection by offering mortgage insurance in case the borrower does not pay his or her financial obligations. Applicable to all homebuyers, FHA loan programs are built 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. FHA loan programs are extremely useful to those buyers with less accumulated funding.