Prime Valuation Center is approved for FHA mortgagesThe FHA publishes a list of approved appraisers for each state - Prime Valuation Center is on the roster of approved appraisers for IL. We're certified and approved to do appraisal reports for FHA secured loans. A portion of the continuing training our staff at Prime Valuation Center undergoes deals exclusively with comprehending the FHA's documentation and their rules and procedures. Be sure to contact Prime Valuation Center if you need an appraisal done for an FHA-secured loan. The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your loan is an FHA-insured loan, it means it is underwritten by them. The lending company provides all the money in the loan; the FHA simply insures the loan by providing mortgage insurance in case the borrower does not pay off his or her loan. The FHA and their loan programs are formed to help low-to-moderate income buyers help meet credit qualifications if they otherwise would not. Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Buyers with lesser income or less starting money to put down on a loan are assisted the most from Federal Housing Administration loan programs. |