Need an appraisal for an FHA-backed mortgage? Call Professional Appraiser Network

The FHA retains of approved appraisers for each state - Professional Appraiser Network is on the roster of approved appraisers for IL. If you have an FHA-insured mortgage, be sure to get with Professional Appraiser Network, as we are approved and certified to produce FHA appraisals. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). No part of the loan is provided by the FHA; what the FHA does is ensure that the mortgage is taken care of in case the borrower doesn't pay their loan. Low-income and moderate-income borrowers benefit from an FHA-insured financial transaction; the purpose of the Federal Housing Administration is to assist credit-worthy consumers to meet expectations and qualifications for lenders 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 incredibly beneficial to those homebuyers with less accumulated cash.