Home Buying in 95747>Question Details

KD, Home Buyer in

How to pre-qualify for FHA loan?

Asked by KD, Sun Jan 20, 2013

I have heard and read about FHA loans and would definitely like to take advantage of this. Can someone point me to a website or re-source where i will be able to know that i qualify for FHA loan?

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Answers

11
Find a good lender and a loan officer you click with is key.
0 votes Thank Flag Link Wed Jan 30, 2013
Jeff Eberhart: First Priority Financial: phone- 916-606-3779 or http://www.fpfnorcal.com...He will be able to answer all your questions.
0 votes Thank Flag Link Mon Jan 21, 2013
For the best advice and great service, contact Karen Dunn of Big Valley Mortgage. I've worked with her for years. She is super sharp and local in Elk Grove. karen.dunn@apmortgage.com - (916) 683-2804
0 votes Thank Flag Link Mon Jan 21, 2013
Kshitij D.,

I'm going to cover FHA loans and other programs available to homebuyers in a free webinar on Feb. 5 (link below). If you'd like to have your questions answered in this format, definitely consider joining us!

Rob Spinosa
RPM Mortgage
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Mon Jan 21, 2013
Home prices in Roseville are about 200k or less for condo's.
Qualify in minutes over the phone or by application. https://secure.jotform.us/form/22950899219164

This is an example of loan programs, down payments and fico score requirements @200k with minimum 700 fico, and approximately $6,500 closing costs. You have options for premium financing which can cover portions of the closing costs in the loan if you don't have 10k. You can buy with minimum out of pocket expenses as low as 3-4k total which includes paying your closing costs in the loan.

Min 580 fico - Loan 200k with CHF Access $1,000 down 3.75% 30 yr FHA fixed rate,
apr 4.48% $!,453.07

Min 580 fico - Loan 200k with 3.5% down $7,000 down 3.25% 30 yr FHA fixed rate,
apr 4.20% $1,340.06

Min 700 fico - Loan 200k with Conv 3% down $6,000 down 4% 30 yr Conv fixed rate,
apr 4.28% $1,359.60

Min 660 fico - Loan 200k with Conv 5% down $10,000 down 3.75% 30 yr fixed rate,
apr 4.02% $1,337.42

Less >660 fico - Loan 200k with Conv 20% down $40,000 down 3.75% 30 yr fixed rate,
apr 3.88% $1,024.31

The closing costs are approx. $6,500 so it depends on how much you have to invest into the purchase to decide which program will benefit you the best financially. You may buy with minimum out of pocket expenses with CHF Access down payment and/or closing costs assistance program with a minimum 580 fico score to qualify.

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 9pm 7 days
http://youtu.be/MrygA2_8fAY
0 votes Thank Flag Link Sun Jan 20, 2013
Sheryl, do you have any contact in DE that could help us?
Flag Sun Nov 17, 2013
I recommend going through the fha application process in your local community. Almost all lenders do FHA loans. Underwriting is a case by case thing and there's no one magic formula.
0 votes Thank Flag Link Sun Jan 20, 2013
Good afternoon,

Yes, you can submit multiple requests for pre-approval. You should work with a loan officer that is knowledgable and works quickly to make sure you get your loan closed on time. I personally use Tara McCafferty as often as possible because she offers competitive rates and closes on time! Her contact info is on my website below. Best of luck to you!
0 votes Thank Flag Link Sun Jan 20, 2013
It only takes a few dozen questions to qualify you in minutes. Do you know what your fico scores are? Do you have down payment and closing costs? If not, you may consider half percent down payment programs from a minimum 580 fico score and which can contribute towards your closing costs as well. Standard FHA is 3.5% down and a minimum 580 fico score to qualify but if you don't have that much, you can opt for the half percent downpayment programs. The rates are still below 4% on an FHA 30 yr fixed rate.

I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify for programs, rates and terms. Here are some links to study and consider.

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 9pm 7 days
http://youtu.be/MrygA2_8fAY
0 votes Thank Flag Link Sun Jan 20, 2013
Hi K-
FHA is a great loan program! Generally you qualify if you make under a certain amount of money and have decent credit. The best way to find out if you qualify is to contact a mortgage consultant. Not only will they go over FHA but will also go over your other options.

Evangeline Scott of Big Valley Mortgage does a thorough job of explaining everything and is the best loan consultant I've worked with.

And as a note, yes, you can get pre-approved through multiple vendors.

Call me for more info. 916-241-8788
0 votes Thank Flag Link Sun Jan 20, 2013
Hello,

My lender Rodney Anderson with Big Valley Mortgage in Roseville is awesome. We have closed many FHA deals together. If you are interested in a free consultation please let me know and I can get you in touch with him.

Jesse Coffey
Keller Williams Realty
548 Gibson Dr. Ste 200
Roseville, Ca. 95678
Ph (916) 872-7775
Fax (916) 960-4594
http://www.homesearchinplacercounty.com/
Realtor
0 votes Thank Flag Link Sun Jan 20, 2013
Hi Kshitij, Consult a mortgage lender.
0 votes Thank Flag Link Sun Jan 20, 2013
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