Need an appraisal for an FHA-backed mortgage? I am Illinois state certified and on the FHA Roster of approved residential appraisers. I am qualified and approved to do appraisal reports for FHA secured financial transactions. A portion of the regular training I have taken deals exclusively with comprehending the FHA's documentation and their rules and procedures.
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 financial transaction is an FHA-insured loan, it means it is backed by them. The lending organization provides all the funds being borrowed - the FHA simply insures the transaction with mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are built to benefit low-to-moderate income purchasers by easing credit requirements. Different from the VA appraiser panel, the lending agency working with Federal Housing Administration is allowed to select 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. The loan programs that the Federal Housing Administration provides are invaluable to consumers with minimal starting income.
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]
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 financial transaction is an FHA-insured loan, it means it is backed by them. The lending organization provides all the funds being borrowed - the FHA simply insures the transaction with mortgage insurance in case the borrower defaults on his or her loan. The FHA and their loan programs are built to benefit low-to-moderate income purchasers by easing credit requirements. Different from the VA appraiser panel, the lending agency working with Federal Housing Administration is allowed to select 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. The loan programs that the Federal Housing Administration provides are invaluable to consumers with minimal starting income.
William Kozik | Phone: 708-476-0151 | Fax: 888-807-1521 | Email: [email protected]