Culling Appraisal Corp is your FHA certified appraisal company
The FHA retains of approved appraisers for each state - Culling Appraisal Corp is on the roster of approved appraisers for IL. This means that we are qualified and approved by the FHA to do appraisal reports for house loans insured by them. A certain amount of the regular training our staff at Culling Appraisal Corp undergoes deals strictly with comprehending the FHA's documentation and their rules and procedures.
Be sure to contact Culling Appraisal Corp if you need an appraisal done for an FHA-secured loan.
If your house loan is FHA approved, 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). The lender takes care of all the finances; the FHA simply secures the loan with mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income borrowers benefit from an FHA-insured loan; the point of the Federal Housing Administration is to help credit-worthy buyers to meet expectations and necessities for lenders that they otherwise would not.
The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA loan programs are particularly useful to those homebuyers with less available cash.