– However, for parts of Illinois, the amount is greater. In Chicago, for example, the maximum loan value is $410,000 for a single family home, and in Rockford, the maximum is $339,250. Check with your lender for Illinois FHA loan values for your county and for your situation, particularly if you plan to buy a multi-family dwelling.
The FHA Appraisal – Which Homes Qualify for FHA loans. – Hey Dan, my wife and I are getting and FHA loan and have just ordered our appraisal. Here is our concern. The home is located in a rural area (on a golf course as well) and there have been NO comps in the surrounding area with one exception.
Fha 20 Year Loan FHA Loan Calculator | Loan Term-15 Years or Less – FHA loans are mortgages insured by the Federal Housing Administration, the largest mortgage insurers in the world. While FHA loans are a viable choice, conventional loans may be better for some people, such as when down payment is over 20% or they have excellent credit scores.