O'Brien Appraisal Group, LLC
Rest assured that O'Brien Appraisal Group, LLC is an FHA-certified appraisal service in IL. This indicates that we are certified and approved by the FHA to do reports for home loans underwritten by them. We're trained and understand the rules and procedures in FHA's guidance and policy documents.
Contact us today if you need to get an appraisal done on an FHA-insured loan.
An FHA loan is underwritten by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not provide funds to borrowers, rather, it provides lenders 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 assist credit-worthy consumers to meet expectations and requirements 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. Buyers with lesser income or less starting capital to use as a down-payment on a financial transaction are assisted the most from Federal Housing Administration loan programs.