Appraisals By Trautman is ready for your FHA mortgages

Appraisals By Trautman is IL state certified and on the FHA Roster of approved residential appraisers. This indicates that we are qualified and approved by the FHA to do appraisal reports for house loans insured by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Appraisals By Trautman is well-trained on how to comply with the rules and regulations provided.

The FHA is the Federal Housing Administration, which is a federal organization in the United States Department of Housing and Urban Development (HUD) - if your financial transaction is an FHA loan, it means it is underwritten by them. None of the money in the loan is provided by the FHA; what the FHA does is ensure that the mortgage is insured in case the borrower doesn't pay their loan. Applicable to all homebuyers, FHA loan programs are made to aid credit-worthy low-income and moderate-income families who do not have the qualifications for conventional loans.

The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. The loan programs that the Federal Housing Administration offers are exceedingly beneficial to purchasers with less starting capital.