Joel Ward Appraisals

The FHA publishes a roster of approved appraisers for each state - Joel Ward Appraisals is on the roster of approved appraisers for Illinois.  We are certified and approved to do reports for FHA insured financial transactions. FHA's guidelines, documentation and policies may seem difficult to comprehend, but the staff at Joel Ward Appraisals is well-trained on how to follow the rules and regulations provided.

If you need an appraisal for an FHA loan, please contact us, and we'll be able to help you right away.

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 underwritten by them. The FHA does not loan funds to borrowers. Rather, it provides lenders with protection by offering mortgage insurance in case the borrower defaults on his or her loan obligations. Low-income and moderate-income consumers benefit the most from FHA-insured loan programs. The point of the Federal Housing Administration is to aid credit-worthy buyers get approved for mortgages that they otherwise would not. Remember that the lender approving a loan backed by the Federal Housing Administration is able to choose the appraisal company with which they'll work, different from VA appraisal panel.

Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. The loan programs that the Federal Housing Administration provides are invaluable to purchasers with minimal starting income.