is Illinois state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured loan, be sure to contact QC Home Appraisal, as we are approved and certified to handle FHA appraisals.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD); if your financial transaction is an FHA-insured loan, it means it is secured by them.
The FHA does not provide funds to borrowers. Rather, it provides lending organizations with security by offering mortgage insurance in case the borrower defaults on his or her loan obligations.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The point of the Federal Housing Administration is to aid credit-worthy consumers get approved for mortgages that they otherwise would not.
Different from the VA appraiser panel, the lending agency working with Federal Housing Administration has the freedom to pick the appraiser.
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 incredibly helpful to consumers with less starting income.
