Need an appraisal for an FHA-backed mortgage? Call McMahon, Baldwin and Associates, Inc
McMahon, Baldwin and Associates, Inc 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 grasp, but the staff at McMahon, Baldwin and Associates, Inc is well-trained on how to comply with the rules and regulations provided.
If you're in need of an appraisal report for an FHA loan, please contact us, and we'll be able to help you right away.
An FHA loan is secured by the Federal Housing Administration, a federal organization that is a part of the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan capital to borrowers, rather, it provides lending organizations with safety by offering mortgage insurance in case the borrower defaults on his or her loan obligations. Available to all homebuyers, FHA loan programs are made to assist credit-worthy low-income and moderate-income families who do not meet requirements for conventional loans.
Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. Buyers with lesser income or less starting funds to put down on a financial transaction are helped the most from Federal Housing Administration loan programs.