is Illinois state certified and on the FHA Roster of approved residential appraisers.
This means that we are qualified and approved by the FHA to do appraisals for property loans underwritten by them.
A portion of the periodic training our staff at J.S. Appraisals, Inc. undergoes deals strictly with understanding 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.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-secured loan, it means it is underwritten by them.
The lender provides all the funds being borrowed - the FHA simply insures the loan by providing mortgage insurance in case the borrower does not pay off his or her loan.
Accessible to all homebuyers, FHA loan programs are built to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Remember, the FHA differs from the VA appraiser panel in that the lender can choose the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
FHA loan programs are particularly helpful to those consumers with less accumulated funding.