Rest assured that Jordan-Appraisal is an FHA-certified appraisal provider in Illinois.
Jordan-Appraisal is certified and approved to do appraisals for FHA secured loans.
A portion of the continuing training our staff at Jordan-Appraisal undergoes deals exclusively with comprehending the FHA's documentation and their rules and procedures.
||If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.
If your property loan is FHA certified, that means that the loan has been guaranteed by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is make sure that the loan is insured in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income homebuyers benefit the most from FHA-backed loan programs. The purpose of the Federal Housing Administration is to assist credit-worthy buyers get approved for mortgages that they otherwise would not.
Unlike the VA appraiser panel, the lender working with Federal Housing Administration actually has the ability 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.
FHA loan programs are particularly beneficial to those buyers with less available funding.