Question by julesmirror: Should I use a mortgage broker to find me the best FHA lender? I'm buying a home and I'm looking for a lender who will give me the best FHA loan. Should I use a mortgage broker to help me? I thought FHA loans were standard in terms of their rate, but that lending institutions can vary their lending fees. Is it more advantageous to find a lender on my own or use a broker? Best answer for Should I use a mortgage broker to find me the best FHA lender?:
Answer by boundaries
Phone around brokers and ask if they deal with FHA loans and if they do, then I would go to a broker. A mortgage broker knows how to fill in the application form and what information is required to get a loan. Good luck!
Answer by Kelsey Wilson
Hi! It will be best if you check with some brokers whether they are deal in loans and if you may not find any then you can check with these sites http:// firsttimehomebuyersloan.org/ http://www.fha-home-loans.com/
Answer by Meme
screw these online companies I have worked for 3 major lenders and 1 broker by far brokers can get you the best deals find someone who knows what they are doing and they can for sure give you the best rate and closing cost. Some brokers are not fha approved but the good ones are. Even as a employee of a major lender I still went through a broker but did my loan through my company through the broker(if that makes sense) becuase the broker gets wholesale rates and the rate they give you is based on how much they make and in this economy a lot of brokers are willing to work for less just to get the business which gives you a better rate. Good luck
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The FHA lender assist those individuals who have low income to purchase homes, apartments or rental properties. FHA stands for Federal Housing Administration. This type of loan is considered very risky for lenders because the borrowers do not have often have a collateral. In order to become one of the lending institution of such loans, the organization first needs to download a copy of the application and then get it approved by the respective authority. If you are planning to become such lenders, there are some points which you have to keep in mind.
When you decide on becoming a FHA lender, first decide on which category you wish to fall under. Since there are several type of lenders, you can choose a category on your preference. Some of them are non-supervised mortgage, non-supervised loan correspondent, supervised mortgage, supervised loan correspondent, investing mortgage and government mortgage.
Everyone dreams of purchasing a home of their own at some point in their life. But, if you are facing some financial issues, it may be very difficulty for you to fulfill this dream. In these situations, it is best if you opt for FHA loans. These loans are applicable for those individuals who want to purchase a home but are short on finance. If you are planning to sign up for this loan, you have to visit a FHA lender.
The best place to search for a FHA lender is via internet. Apart from these, the Florida hard money loans are also quite popular among individuals who are planning to set-up a business or expand an existing one. This scheme is very popular among the citizens of Florida because it takes less time to get approved unlike traditional bank loans. Before you apply for this loan, remember that it is collateral based. This means that your property will be serve as a guarantee for the borrowed amount.
The most significant feature of the Florida hard money loan is it does not take a long time to get the application sanctioned. If you have applied to the traditional lending institutions for loans, you may have to wait a long time to get it approved. Also, you will be required to go through some procedures for verification. If an individual is in dire need of funds then the Florida hard money loan will be best option. This is because your application for the loan will be approved within a few days and the Florida hard money lenders are only interested in the collateral.
There are several types of Florida hard money schemes. One of the most common is the reverse mortgage scheme. This is popular among senior citizens who are facing financial difficulty in their old age. The best feature of this Florida hard money plan is it allows them to continue living in their property as long a they live. Once the borrower is deceased, the property is sold to get the borrowed amount. Recommend Know More About FHA Lender Topics
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