is Illinois state certified and on the FHA Roster of approved residential appraisers.
This indicates that we are qualified and approved by the FHA to do appraisal reports for home loans insured by them.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is backed by the Federal Housing Administration, a federal agency that is a part of 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 insured in case the borrower defaults on his or her loan obligations.
Applicable to all consumers, FHA loan programs are designed to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA deviates from the VA appraiser panel in that the lending agency can select the appraiser.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
The loan programs that the FHA offers are invaluable to consumers with minimal starting capital.
