Need an appraisal for an FHA-backed mortgage? Call First Appraisal ServicesThe FHA publishes a list of approved appraisers for each state - First Appraisal Services is on the roster of approved appraisers for IL. First Appraisal Services is certified and approved to do appraisals for FHA secured loans. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at First Appraisal Services is well-trained on how to work in accordance with the rules and regulations provided. 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. The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA loan, it means it is underwritten by them. The FHA does not loan funds to borrowers, rather, it provides lending agencies with safety by offering mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income consumers benefit from an FHA-insured financial transaction; the point of the Federal Housing Administration is to assist credit-worthy buyers to meet expectations and necessities for lending agencies that 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. Purchasers with lesser income or less starting money to put down on a financial transaction are helped the most from Federal Housing Administration loan programs. |