ASSOCIATES APPRAISAL is approved for FHA backed loans
The FHA maintains of approved appraisers for each state - ASSOCIATES APPRAISAL is on the roster of approved appraisers for IL. We're qualified and approved to do reports for FHA insured financial transactions. Part of the regular training our staff at ASSOCIATES APPRAISAL receives deals precisely with comprehending the FHA's documentation and their rules and procedures.
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan funds to borrowers, rather, it provides lending agencies with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are designed to aid low-to-moderate income buyers help meet credit expectations if they otherwise would not.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Consumers with lower income or less starting capital to use as a down-payment on a loan are assisted the most from Federal Housing Administration loan programs.
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