Rest assured that Zim Appraisals is an FHA-certified appraisal firm in Illinois.
If you have an FHA-mortgage, be sure to get with Zim Appraisals, as we are approved and certified to perform FHA appraisals.
FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at Zim Appraisals is well-trained on how to comply with the rules and regulations provided.
An FHA loan is secured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD).
None of the funds are provided by the FHA. What the FHA does is see to it that the loan is paid for in case the borrower doesn't pay their loan.
The FHA and their loan programs are designed to assist low-to-moderate income consumers by easing credit qualifications.
Unlike the VA appraiser panel, the lending organization working with FHA actually has the ability to pick the appraiser.
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 incomes or less starting capital to use as a down-payment on a loan are helped the most from Federal Housing Administration loan programs.
