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how to find FHA mortgage brokers ?

Posted by ani_t (My Page) on
Sun, Aug 7, 11 at 22:11

I went to the bank that holds my original load and got a quote (not locked in yet)
There could be a big discrepancy between what is my listed value in the property records of the county and the actual market value. In any-case I need an appraisal.

If I am really close to 90% of LTV as my county records suggest its probably better for me to get an FHA loan. only I an not sure how to.
How do I find these FHA brokers ? Will they need an appraisal or can they lock in my rate and then get an appraisal ? don't know how it works. Can I get an appraisal by myself and use it to get quotes with different banks ? I need to do this asap too... thanks


Follow-Up Postings:

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RE: how to find FHA mortgage brokers ?

"There could be a big discrepancy between what is my listed value in the property records of the county and the actual market value."

Appraisals for real estate taxes rarely match actual values very well or for very long.

Just start calling mortgage brokers and ask them if they have any lenders that do FHA.

The brokers do not actually make loans, they find you a lender who makes the loan.


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RE: how to find FHA mortgage brokers ?

Do not get your own appraisal. The lender that you eventually go with will require one of thier own.
You can not lock a rate in until you formally apply for a loan, and agree to the $400 application fee.
FHA loans onloy require 3.5% doen payment , but there are certain criteria to meet. Most lenders can handle an FHA product.


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RE: how to find FHA mortgage brokers ?

"Most lenders can handle an FHA product."

Some hate the extra hassle of FHA.


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