PS Professional Inc. appraisers can do appraisals for FHA mortgagesThe FHA keeps a roster of approved appraisers for each state - PS Professional Inc. appraisers are on the roster of approved appraisers for IL. If you have an FHA-insured loan, be sure to get with PS Professional Inc., as we are approved and qualified to perform FHA appraisals. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at PS Professional Inc. is well-trained on how to follow the rules and regulations provided. Contact us today if you need to get an appraisal done on an FHA-insured loan. The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is insured by them. The FHA does not provide funds to borrowers, rather, it provides lenders with security through mortgage insurance in case the borrower defaults on his or her financial obligations. Low-income and moderate-income homebuyers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to aid credit-worthy buyers to meet expectations and qualifications for lenders 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 useful to those buyers with less accumulated cash. |