The FHA retains the rolls of approved appraisers for each state - Certified Residential Appraisal, Inc. is on the roster of approved appraisers for Illinois.
This indicates that we are qualified and approved by the FHA to do appraisal reports for property loans backed by them.
A certain amount of the continuing training our staff at Certified Residential Appraisal, Inc. completes deals strictly with decoding the FHA's documentation and their rules and procedures.
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If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is underwritten by the Federal Housing Administration, a federal agency that is a part of the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan capital to borrowers. Rather, it provides lending organizations with safety with mortgage insurance in case the borrower does not pay his or her financial obligations.
The FHA and their loan programs are designed to help low-to-moderate income homebuyers by easing credit requirements.
Unlike the VA appraiser panel, the lending organization working with FHA is allowed to pick the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are extremely helpful to those consumers with less accessible funding.
