North East Appraisal, IncWe assure you that North East Appraisal, Inc is an FHA-approved appraisal provider in IL. This means that we are certified and approved by the FHA to do reports for property loans insured by them. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at North East Appraisal, Inc is well-trained on how to follow the rules and regulations provided. If you're in need of an report 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 organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA-secured loan, it means it is underwritten by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is insured in case the borrower doesn't pay their loan. Low-income and moderate-income homebuyers benefit from an FHA-secured loan; the point of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and necessities 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. FHA loan programs are particularly helpful to those buyers with less accessible starting capital. |