The FHA publishes a list of approved appraisers for each state - Hartland Appraisals is on the roster of approved appraisers for Illinois.
Hartland Appraisals is qualified and approved to do reports for FHA insured loans.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you need an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away. |
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If your property loan is FHA certified, that means that it has been secured by the Federal Housing Administration, which is a branch of the United States Department of Housing and Urban Development (HUD).
None of the money in the loan is provided by the FHA. What the FHA does is see to it that the mortgage is paid for in case the borrower doesn't pay their loan.
Low-income and moderate-income borrowers benefit the most from FHA-secured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lender working with the the FHA is able to pick the appraisal company with which they'll work, different from VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Purchasers with lesser incomes or less starting money to put down on a mortgage are assisted the most from Federal Housing Administration loan programs.