Need an appraisal for an FHA-backed mortgage? Call Jackson@absolute AppraisalsJackson@absolute Appraisals is IL state certified and on the FHA Roster of approved residential appraisers. Jackson@absolute Appraisals is certified and approved to do appraisals for FHA insured loans. We're trained and understand the rules and procedures in FHA's guidance and policy documents. Contact us today if you need to get an appraisal done on an FHA-insured loan. If your loan is FHA approved, that means that the loan has been guaranteed by the Federal Housing Administration, which is underneath the United States Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending agencies with safety through mortgage insurance in case the borrower does not pay his or her financial obligations. Low-income and moderate-income consumers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to cooperate with credit-worthy consumers to meet expectations and requirements for lending agencies that they otherwise would not. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the FHA offers are exceedingly useful to purchasers with less starting income. |