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Phoenix, Home Buyer in Phoenix, AZ

Can my FHA application loan case number be transferred from one lender to another?

Asked by Phoenix, Phoenix, AZ Sun Feb 23, 2014

Long story, we are purchasing a new built Pulte Ho,me. We applied for a loan with Pulte Mortgage in September 2013. I am past my closing date by one week. To say the least, dealing with Pulte Mortgage was a nightmare! We decided to seek help elsewhere, however, the FHA loan limit changed to 271,050 and our loan is 10,000 more than that. Can I transfer my FHA case from Pulte to the new Lender? The new lender is promising they can help us close in 3 weeks. I don't want to wait on Pulte Mortgage anymore. They have only set us up to fail from the beginning. I want a new lender to take over but I cannot afford to pay another 10,000 plus closing cost. Again, can our FHA Case # be transferred?

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11
It can happen in seconds if the original lender is cooperative. It is just a matter of going into the system and transferring the number to the new lender.

Sure You will figure it out here: http://fhamortgageinfo.com/
2 votes Thank Flag Link Wed Jul 22, 2015
How many times are we allowed to transfer? For example, if the second lender did not hold true to their promise, can the FHA case number be transferred to a third lender?
Flag Tue Jan 12, 2016
Hi,
As far as I understand yes you can. I do suggest you speak with a lender to confirm. Best wishes, Tiffany

Paul Bianchi
Loan Officer
Office: 480.614.6402
Cell: 480.323.5318
Fax: 480.389.2611
paul.bianchi@novahomeloans.com
http://www.novahomeloans.com/paul..bianchi
1 vote Thank Flag Link Mon Feb 24, 2014
Hello,

The short answer is yes you can. However, you must be buying the same property in order to do this. The case number can't transfer to a different home for you to buy. As one of the responders mentioned and as I think you are alluding to regarding paying another $10k in closing costs, you run the risk of losing the credit that Pulte gives for using them as lender, correct?

Or are you referring to a deposit that you made towards the purchase?

I would be happy to speak with you and review your documents to see what the true cost of transferring the case number would be. Sometimes there is an out on the closing costs that they were going to pay for you and they need a little "prodding" from someone to acknowledge it. I'm not sure why the new lender that you are speaking of doesn't understand about transferring a case number? This is a very common scenario so that seems a little worrisome.....

I am available to help you at your convenience if you wish.

I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”

Regards,

Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

http://www.loansfromrob.com/quote/
1 vote Thank Flag Link Mon Feb 24, 2014
How many times are we allowed to transfer? For example, if the second lender did not hold true to their promise, can the FHA case number be transferred to a third lender?
Flag Tue Jan 12, 2016
The FHA case # can be moved to a different lender. You also have the issue with past the COE date because of financing based on what you wrote. Most new home builders wil not let that situation exist for too long.

Dave Jackson
Loan Officer/Real Estate Asset Planner
Financing Solutions for Arizona Real Estate since 1993
American Financial Lending, Inc.
20860 N. Tatum Blvd, Suite 160
Phoenix, AZ 85050-4277
602 277-3800 w
602 631-9788 f
602 524-2401 c
602 912-9438 h
davej@aflhomeloans.com http://www.aflhomeloans.com
BK # 0910057 NMLS LO ID # 284875
1 vote Thank Flag Link Mon Feb 24, 2014
Hello, the answer is yes you can transfer.

Now about the limits you would have to talk to a LO about that;

Changing lender might still slow down what you are doing because they have to start from the biggening, see what the lender you are dealing with is giving you. And then call a few Loan officers.

Call you current lender and find out. What's holding the deal up, I can tell you for experience most lenders are not closing on time they all have overlays that are delaying the closing.

Hope this help you
0 votes Thank Flag Link Mon Feb 24, 2014
You might be losing some discounted loan fees or other perks by not using the builder's lender so make sure you understand the ramifications of a change like this.
0 votes Thank Flag Link Mon Feb 24, 2014
Hello Phoenix,

Contact Karen Jones 480-339-1577 with AmeriFirst Financial and she will answer your questions and possibly close sooner than you think. Please let her know I sent you.

Have a GREAT day!

Vivien L Biggs PLC
602-615-9137
Prudential Arizona Properties
0 votes Thank Flag Link Mon Feb 24, 2014
Yes, there is no doubt that this file can be transferred to a new lender. I had a transaction last year where this needed to be done and went very smoothly and closed a few weeks later. All of the information, inspections, appraisals, etc. transferred seamlessly with the file. I wish you the best of luck, and I am sure that this will all get figured out.

Congrats on your future new home,

Mark Honeck, Associate Broker
Solutions Real Estate
602-573-1673
0 votes Thank Flag Link Mon Feb 24, 2014
Yes, FHA case numbed can be transferred. Are you working closely with the new home sales people, will they wait while you change lenders?

Do you loose any incentive?

Penalties?

Do you have an agent?
0 votes Thank Flag Link Mon Feb 24, 2014
Good morning Phoenix,

Yes, you can apply at a new FHA Lender. They will request the case number be transferred. You need only cancel your Loan Application with the existing Lender.

As far as paying closing costs: why would you pay "another 10,000 plus?" Most closing costs are paid at closing. If you transfer to a new Lender then you pay your closing costs when you close with that new Lender. Possibly you paid some upfront fees such as Appraisal and/or Credit Report fee to the first Lender but since your appraisal is being transferred you shouldn't have to pay the appraisal fee again.

As far as the Loan limits changing, as long as your FHA Case number was ordered BEFORE the limits changed then you should be okay.

Last, but MOST importantly: WHY ISN'T the NEW LOAN OFFICER EXPLAINING ALL THIS TO YOU? Maybe you made the wrong selection second time around, too.

Trevor Curran
NMLS #40140
0 votes Thank Flag Link Mon Feb 24, 2014
It sure can! Let me know if you need assistance finding another lender!
0 votes Thank Flag Link Mon Feb 24, 2014
How many times are we allowed to transfer? For example, if the second lender did not hold true to their promise, can the FHA case number be transferred to a third lender?
Flag Tue Jan 12, 2016
How many times are we allowed to transfer? For example, if the second lender did not hold true to their promise, can the FHA case number be transferred to a third lender?
Flag Tue Jan 12, 2016
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