Rest assured that MS Residential Real Estate Appraisals is an FHA-certified appraisal practice in Illinois.
We're qualified and approved to do appraisal reports for FHA secured loans.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at MS Residential Real Estate Appraisals is well-trained on how to work in accordance with the rules and regulations provided.
 |
 |
 |
If you're in need of an appraisal 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 within 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 through mortgage insurance in case the borrower does not pay his or her loan obligations.
The FHA and their loan programs are created to aid low-to-moderate income buyers by easing credit requirements.
Unlike the VA appraiser panel, the lender working with Federal Housing Administration is allowed to pick 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.
Those with lower incomes or less starting capital to use as a down-payment on a mortgage are assisted the most from Federal Housing Administration loan programs.