is Illinois state certified and on the FHA Roster of approved residential appraisers.
We're certified and approved to do appraisals for FHA secured loans.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Alpha Valuations is well-trained on how to comply with the rules and regulations provided.
An FHA loan is underwritten by the Federal Housing Administration, a federal organization within the U.S. Department of Housing and Urban Development (HUD).
The lending organization provides all the money in the loan - the FHA simply insures the transaction with mortgage insurance in case the borrower does not pay off his or her loan.
Low-income and moderate-income homebuyers benefit the most from FHA-insured loan programs. The purpose of the Federal Housing Administration is to help credit-worthy families and individuals get approved for mortgages that they otherwise would not.
Remember that the lender approving a loan associated with the Federal Housing Administration is permitted to choose which appraisers they will use, unlike the VA appraisal panel.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
Consumers with lesser incomes or less starting funds to put down on a financial transaction are helped the most from Federal Housing Administration loan programs.
