is Illinois state certified and on the FHA Roster of approved residential appraisers.
London Castle Appraisal is certified and approved to do appraisal reports for FHA insured loans.
Part of the periodic training our staff at London Castle Appraisal receives deals strictly with decoding the FHA's documentation and their rules and procedures.
If your house loan is FHA approved, that means that the loan has been secured by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD).
The lender provides all the financing - the FHA simply backs the loan by providing mortgage insurance in case the borrower defaults on his or her loan.
The FHA and their loan programs are built to assist low-to-moderate income purchasers by easing credit qualifications.
Remember that the lending organization working with the the FHA is permitted to select the appraisal company with which they'll work, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the Federal Housing Administration offers are incredibly helpful to buyers with minimal starting capital.