I was approved for a conventional loan and had that in line for the past few weeks. But, on Thursday, I was informed that I was declined by the mortgage insurance company. My credit history is completely fouled by another person with my name (70k in debt and a tax lein from accounts that were opened before I was born). Despite the lender being satisfied with clearing up the discrepencies, the insurer will not accept the corrections and that loan fell through. So on friday, my broker started working on switching to FHA. My settlement is Thursday, Monday is a holiday, the FHA appraiser is coming on Tuesday. My broker tells me I have nothing to worry about, but is it even possible to get the FHA loan straigtened out in time for Thursday? I feel like I’m about to lose my dream house and my EMD (and my mind).
Let me reiterate that the FHA appraiser is already scheduled to come out on Tuesday.
Answer: Yes it can.
Can an FHA loan be approved in 5 days?
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