I guess it depends on where you need "aggressiveness".
If its credit, or income restrictions, or pricing, etc.
You should be looking at around 3.75% with no points, and some rebate if you are dealing with someone that is in the ball park from a pricing standpoint.
Other than that, it should be right in the same range.
Prime Time Realty
25-30 days is an aggressive time frame in this market for an FHA loan. Anyone telling you that they can get a deal closed faster than that from start to finish is setting you up for disappointment. There are many moving parts in a loan and some are even beyond the control of both your agent and loan officer. However above all, experience counts when time frames have to be precise! Having someone that knows exactly how to deal with some of the issues that can arise quickly and decisively is critical to your success. Another important thing to remember is that the industry as a whole is changing, and no matter how good a "Mortgage Broker" may be (and there are a lot of really good ones out there), many lenders are closing down their wholesale divisions with no warning to the brokers that had loans in place with them. This means that they now have to start over with a new lender which could cause significant delays to the closing. If time is truly going to be of the essence, that is not something that you will be able to risk. It kills me to say that since I had been a "Mortgage Broker" for 20 years and a past President of the SD Association of Mortgage Brokers, but this is just one more way the industry is being changed. I would stick to a direct lender that has good turn times. Let me know if I can help.
I use a local lender here in San Diego a lot, who can close FHA (and VA) loans quickly. The appraisals don't take as long as the large lenders either, plus they have in-house underwriting and they're quick once the appraisal's in. And that means any questions regarding property qualification can be answered before the offer gets submitted, so no unwanted surprises there in escrow - after you've already paid for an appraisal and inspection out-of-pocket. I refer them to agents who are having issues with underwriting who shouldn't be, and it happens all the time.
I have other lenders I like for other loan types, but for the regular old FHA or VA or conventional, these are my go to people.
Contact me anytime.
Cory La Scala, REALTOR
CA DRE # 01443391
I work with a major lender who is very experienced with FHA loans. They have always been able to close the loans in a timely manner.
As others have said there are certain FHA guidelines that must be met. An experienced lender can foresee any problems and address them before submitting the loan for final underwriting which saves time and money.
I would be glad to work with you to find the right home and lender to get you into a home as soon as possible.
Please contact me at your convenience,
I am never too busy for your referrals
The San Diego Property Shop
CA DRE # 00648687
I have personally been originating and funding FHA loans for nearly 30 years. I am a DIRECT lender and can offer a fast turn around time on your transaction. In addition if a Buyer's credit scores are below the 620 mark I have FHA programs that fit that specifric need. We also offer Grants and or 2nd TD's that could assist you with your down payment or closing costs.
As for an Agent, I suggest Candice Nasco. She is agreesive, easy to deal with and has a great approach to everyone within a transaction. Candice can be reached at firstname.lastname@example.org.
888-619-4858, ext. 12
Realty Executives Dillon