Need an appraisal for an FHA-backed mortgage? Call ARC Appraisals

ARC Appraisals is IL state certified and on the FHA Roster of approved residential appraisers. We are qualified and approved to do reports for FHA insured loans. FHA's guidelines, documentation and policies may seem difficult to understand, but the staff at ARC Appraisals is well-trained on how to comply with the rules and regulations provided.

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 financial transaction is an FHA-secured loan, it means it is secured by them. No part of the loan is provided by the FHA; what the FHA does is make sure that the loan is secure in case the borrower defaults on his or her loan obligations. The FHA and their loan programs are designed to aid low-to-moderate income purchasers help meet credit requirements if 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 extremely helpful to those buyers with less accessible funding.