We confidently state that Johnson Real Estate is an FHA-approved appraisal firm in Illinois.
Johnson Real Estate is certified and approved to do appraisals for FHA insured loans.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
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 financial transaction is an FHA-secured loan, it means it is underwritten by them.
The lending organization provides all the money in the loan - the FHA simply secures the loan with mortgage insurance in case the borrower does not pay off his or her loan.
Available to all buyers, FHA loan programs are formed to aid credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Remember, the FHA is different from the VA appraiser panel in that the lender can choose the appraisal company.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the FHA offers are lifesavers to purchasers with less starting income.
