Island Preferred, Inc. can do FHA loans

We confidently state that Island Preferred, Inc. is an FHA-certified appraisal provider in NY. If you have an FHA-mortgage, be sure to contact Island Preferred, Inc., as we are approved and qualified to handle FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Island Preferred, Inc. is well-trained on how to work in accordance with the rules and regulations provided.

An FHA loan is underwritten by the Federal Housing Administration, a federal organization 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 make sure that the loan is taken care of in case the borrower defaults on his or her loan obligations. Applicable to all homebuyers, FHA loan programs are designed to assist credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are incredibly helpful to those consumers with less accessible starting capital.