We are happy to say that William Lento is an FHA-approved appraisal firm in Massachusetts.
William Lento is certified and approved to do appraisal reports for FHA insured loans.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at William Lento is well-trained on how to follow 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 loan, it means it is secured by them.
None of the funds are provided by the FHA. What the FHA does is make sure that the mortgage is insured in case the borrower defaults on his or her loan obligations.
Applicable to all homebuyers, FHA loan programs are built to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Unlike the VA appraiser panel, the lender working with FHA is allowed to pick the appraiser.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates.
Those with lesser incomes or less starting money to put down on a mortgage benefit the most from FHA loan programs.
