Schaid Appraisals is your FHA certified appraisal companyThe FHA publishes a list of approved appraisers for each state - Schaid Appraisals is on the roster of approved appraisers for IL. Schaid Appraisals is certified and approved to do appraisals for FHA secured loans. Part of the continuing training our staff at Schaid Appraisals undergoes deals exclusively with understanding the FHA's documentation and their rules and procedures. Be sure to contact Schaid Appraisals if you need an appraisal done for an FHA-secured loan. If your loan is FHA certified, that means that it has been secured by the FHA, which is underneath the United States Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lending agencies with safety through mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit from an FHA-insured loan; the purpose of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and necessities for lending organizations 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 extremely helpful to those homebuyers with less accessible funding. |