is Iowa state certified and on the FHA Roster of approved residential appraisers.
If you have an FHA-mortgage, be sure to call Reilly Appraisal Services, LLC, as we are approved and certified to produce FHA appraisal reports.
We're trained and understand the rules and procedures in FHA's guidance and policy documents.
The FHA is the Federal Housing Administration, which is a federal agency in the United States Department of Housing and Urban Development (HUD); if your loan is an FHA-insured loan, it means it is insured by them.
No part of the loan is provided by the FHA. What the FHA does is ensure that the loan is paid for in case the borrower defaults on his or her loan obligations.
The FHA and their loan programs are designed to benefit low-to-moderate income purchasers by easing credit expectations.
Remember that the lending agency approving a loan associated with the FHA is authorized to select their appraisers, different from VA appraisal panel.
Down payments are often lower with an FHA loan despite using conventional market rates.
The loan programs that the FHA offers are extremely beneficial to purchasers with minimal starting income.