Need an appraisal for an FHA-backed mortgage? Call Kordik & Associates, Inc.

Kordik & Associates, Inc. is IL state certified and on the FHA Roster of approved residential appraisers. If you have an FHA-insured mortgage, be sure to call Kordik & Associates, Inc., as we are approved and certified to handle FHA reports. We're trained and understand the rules and procedures in FHA's guidance and policy documents.

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 loan is an FHA-secured loan, it means it is underwritten by them. The FHA does not loan money to borrowers, rather, it provides lending agencies with protection by offering mortgage insurance in case the borrower does not pay his or her financial obligations. The FHA and their loan programs are designed to aid low-to-moderate income homebuyers help meet credit qualifications if they otherwise would not.

Typically, a buyer has to pay less of a down payment on an FHA-insured loan, while the rates remain standard market rates. FHA loan programs are particularly useful to those purchasers with less available funding.