The FHA keeps the rolls of approved appraisers for each state - Center Point Valuation is on the roster of approved appraisers for Illinois.
Center Point Valuation is certified and approved to do appraisal reports for FHA insured financial transactions.
FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Center Point Valuation is well-trained on how to comply with the rules and regulations provided.
If your financial transaction is FHA insured, that means that the loan has been secured by the Federal Housing Administration, which is part of the United States Department of Housing and Urban Development (HUD).
No part of the loan is provided by the FHA. What the FHA does is make sure that the mortgage is paid for in case the borrower doesn't pay their loan.
The FHA and their loan programs are created to benefit low-to-moderate income homebuyers by easing credit requirements.
Remember, the FHA differs from the VA appraiser panel in that the lending organization can 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 money to put down on a financial transaction benefit the most from FHA loan programs.
