is Illinois state certified and on the FHA Roster of approved residential appraisers.
Tri-State Appraisals is qualified and approved to do reports for FHA secured financial transactions.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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If you're in need of an appraisal for an FHA loan, please contact us, and we'll be able to help you right away. |
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An FHA loan is insured by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD).
No part of the loan is provided by the FHA. What the FHA does is make sure that the mortgage is paid for in case the borrower defaults on his or her loan obligations.
Applicable to all purchasers, FHA loan programs are made to help credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.
Unlike the VA appraiser panel, the lending organization working with FHA has the ability to choose the appraiser.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the Federal Housing Administration offers are lifesavers to buyers with minimal starting income.