is Illinois state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-insured loan, be sure to contact Elite Appraisal Center, LLC, as we are approved and qualified to perform FHA appraisals.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
The FHA does not loan funds to borrowers. Rather, it provides lending organizations with safety with mortgage insurance in case the borrower defaults on his or her financial obligations.
The FHA and their loan programs are created to aid low-to-moderate income buyers by easing credit qualifications.
Remember, the FHA differs from the VA appraiser panel in that the lending agency can select 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 incredibly helpful to consumers with less starting income.