Bailey Appraisal Service can do FHA mortgagesWe are happy to say that Bailey Appraisal Service is an FHA-certified appraisal firm in IL. We are certified and approved to do appraisal reports for FHA insured financial transactions. A certain amount of the ongoing training our staff at Bailey Appraisal Service undergoes deals precisely with decoding the FHA's documentation and their rules and procedures. Be sure to contact Bailey Appraisal Service if you need an appraisal done for an FHA-secured 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 financial transaction is an FHA loan, it means it is underwritten by them. The FHA does not provide funds to borrowers, rather, it provides lending organizations with protection by offering mortgage insurance in case the borrower defaults on his or her financial obligations. The FHA and their loan programs are created to help low-to-moderate income consumers help meet credit expectations if they otherwise would not. Down payments are often lower with an FHA loan despite using conventional market rates. FHA loan programs are particularly beneficial to those buyers with less accumulated starting capital. |