Price, Merrick & Assoc. LLCThe FHA publishes a list of approved appraisers for each state - Price, Merrick & Assoc. LLC is on the roster of approved appraisers for IL. This indicates that we are certified and approved by the FHA to do reports for house loans underwritten by them. FHA's guidelines, documentation and policies may seem difficult to grasp, but the staff at Price, Merrick & Assoc. LLC is well-trained on how to follow the rules and regulations provided. Be sure to contact Price, Merrick & Assoc. LLC if you need an appraisal done for an FHA-secured loan. 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-secured loan, it means it is secured by them. The lender provides all the money in the loan; the FHA simply insures the transaction through mortgage insurance in case the borrower defaults on his or her loan. Low-income and moderate-income consumers benefit from an FHA-secured financial transaction; the point of the Federal Housing Administration is to aid credit-worthy potential buyers to meet expectations and requirements 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. Buyers with lower income or less starting money to use as a down-payment on a financial transaction are assisted the most from Federal Housing Administration loan programs. |