We do not provide any loan modifications or foreclosure services, nor do we connect you with any providers of those services.
Frequently Asked Questions (FAQ)
Q: What is an FHA loan?
A: An FHA loan is a real estate mortgage. The mortgage is insured by FHA. Since the FHA insures these mortgages, lenders can work with borrowers even when they've had credit problems, accounts forwarded to collections, past bankruptcy filings, or debt-to-income ratios that are higher than normally allowed.
Q: Can I get an FHA Mortgage?
A: Many more people qualify for FHA mortgages than for traditional mortgages. To find out if you qualify, speak with our affiliate FHA Mortgage Specialists. They'll be able to provide a definite answer, quickly.
Q: "What if I have "bad credit"?
A:"Bad credit" is a very misleading term. We've worked with many people who have described themselves as having "bad credit" but who are now homeowners. The truth is, most people do not even know their middle credit score. If you'd like to find out yours, click here. To find out your middle score, write down all three of your credit scores from lowest to highest, the one in the middle (not the lowest and not the highest) is your "middle score".
Q: Even if I've filed bankruptcy?
A: Yes. You may be able to get an FHA loan even if you've filed for bankruptcy in the past.
Q: Which houses/properties qualify?
A: Single family houses, duplexes, triplexes, 1-4 unit primary residences, Planned Urban Developments (PUDs), approved condominiums, double-wide manufactured homes, and modular or pre-cut housing are all eligible.
Q: Isn't it harder for houses to qualify for an FHA mortgage than a traditional mortgage?
A: As of January of 2006, FHA has eliminated most of the barriers to a property qualifying. Generally, if a home is in good enough condition to qualify for a traditional mortgage, it will also qualify for an FHA mortgage.
Q: Do I have to use one of your Preferred Real Estate Specialists?
A: You are not required to work with our Preferred Real Estate Specialists. You may work with any Real Estate agent you choose. Offering you the option of working with a Preferred Real Estate Specialist is just another way that we help you become a homeowner.
Q: How much can I borrow?
A: Our affiliate FHA Mortgage Specialists will help you determine how much you can spend on your new home. FHA limits vary by county; click here to check your local FHA limits entp.hud.gov/idapp/html/hicostlook.cfm hyperlink to that page
Q: How long does the process take?
A: During the initial phone call, our mortgage specialist will spend as long as you need to have all of your questions answered to your satisfaction. Once you've found a home, you can complete an application in as little as 20 minutes. It takes an average of 30 days from the day your application is submitted to close your mortgage.
Q: Where can I get the FHA mortgage?
A: We make it easy to get an FHA mortgage in your community. You won't have to visit an office or meet with a mortgage specialist in person. Once you talk with one of our specialists by phone, you can complete the rest of the process by phone, fax, mail, and e-mail. It's that simple!