What are some FHA Loans providers ?

Question

What are some companies that provide FHA loans. I wanted to start getting my pre-approves going & needed some companies to apply for .

Andrew Postell · Answer

@Ondrej Brown as mentioned above just about anybody will do FHA loans.  However, not everyone will be good at them.  Keep in mind that FHA loans are just for your primary home...so you cannot use them on investment properties.  If you are in fact looking to buy your primary home then you should 100% use a real estate agent.  Using a real estate agent as a BUYER is free for you.  And if they are any good they will help you make the right offer, identify areas to negotiate on....AND they should know very good lenders to work with.  My suggestion might be to find a good realtor first, and they should be able to show you the way.

If you are looking to buy investment properties then let us know so we can make some different suggestions.  Hope this helps!

Harjeet Bhatti · Answer

@Ondrej Brown  You can start working with your bank where you are doing banking. Most of lenders offer FHA.

Andrew Postell · Answer

@Ondrej Brown no problem.  I would still encourage you to reach out to a real estate agent.  As @Chris Mason recommended above, maybe some smaller lenders too.  Either way would be a good start.  Good luck!

Ondrej Brown · Answer

@Andrew Postell Thank you for this great information ! I was looking to get a duplex , live in the top & rent the bottom out . I’m aware of the FHA requirement so I know I would have to live in that house for year . Any ideas from that standpoint ?

Ondrej Brown · Answer

@Harjeet Bhatti Thank you !

Chris Mason · Answer

Local independent mortgage brokers with little rinky dink "company" names that you've never heard of presently have a ridiculous advantage over the competition w/ FHA. To the point that when I made the switch from a big direct lender company to where I'm at now, my first potential FHA client (Vallejo IIRC, might have been Stockton) took their business elsewhere because "my" rate (eg, the lender's rate) was a "red flag." Now I go over this whole speech about how banks and direct lenders are allowed to set different profit margins by loan type, but that is prohibited in the wholesale brokered mortgage channel. So it's not that anyone is a nice guy or gal, it's that bankers and direct lenders have better lobbyists than wholesale lenders, and as a result on our side the lenders are prohibited from having triple the normal profit margin.

Low to mid 3s assuming a >640 FICO, closing in 21 days or less. Set your expectations there and call around local to you until you find it. I basically already gave you a pretty big tip as to where that will be.

What are some FHA Loans providers ?

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