Need an appraisal for an FHA-backed mortgage? Call ASSOCIATES APPRAISAL
The FHA retains of approved appraisers for each state - ASSOCIATES APPRAISAL is on the roster of approved appraisers for IL. If you have an FHA-loan, be sure to contact ASSOCIATES APPRAISAL, as we are approved and certified to perform FHA appraisal reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Be sure to contact ASSOCIATES APPRAISAL if you need an appraisal done for an FHA-secured loan.
An FHA loan is insured 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. Accessible to all buyers, FHA loan programs are designed to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Those with lesser income or less starting funds to use as a down-payment on a financial transaction are helped the most from Federal Housing Administration loan programs.
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