Need an appraisal for an FHA-backed mortgage? Call U R Home AppraisalsU R Home Appraisals is IL state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-mortgage, be sure to call U R Home Appraisals, as we are approved and qualified to perform FHA appraisal reports. A certain amount of the continuing training our staff at U R Home Appraisals completes deals strictly with comprehending the FHA's documentation and their rules and procedures. Contact us today if you need to get an appraisal done on an FHA-insured loan. An FHA loan is underwritten by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The lending organization takes care of all the loaned money; the FHA simply secures the transaction through mortgage insurance in case the borrower does not pay off his or her loan. Low-income and moderate-income consumers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and requirements 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. Buyers with lower income or less starting money to put down on a loan are assisted the most from Federal Housing Administration loan programs. |