We're FHA Approved
Staff members of O'Neil Appraisal, LLC are on the FHA Roster of approved residential appraisers. We are qualified and approved to perform appraisals for FHA insured loans. Furthermore, we are trained and understand the rules and procedures in FHA's guidance and policy documents.
An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations.
Available to all buyers, FHA loan programs were originally designed to help creditworthy low-income and moderate-income families who did not meet requirements for conventional loans. However, the FHA is currently the predominant lender in today's marketplace.
FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.