I’m looking at houses online and some of them say FHA buyers welcome. Does this mean that some people don’t want to deal with someone who has an FHA loan? Please also tell me anything you know about FHA loans. Thanks.
Tags: bethesda md, buyer benefits, delmarva, fha loan, FHA Loans, FHA Loans, fha mortgage loans, first time home, first time home buyer, government officials, holland michigan, loan losses, loan processor, morgage lender, mortgage loans loans, mortgage network, Reverse Mortgage, reverse mortgages, september 9, time home buyer, wsji recently went through a divorce and my credit was pretty much affected… my fico is a small under 600 right now. all my credit cards are paid off. i wanted to get into a mortgage but i dont have 20% to place down. is there a way that i can still buy a home.. perhaps fha or 100% financing. I have a well paying job. i live in NJ
Tags: colletti, credit card applications, credit card with bad credit, credit cards, credit cards for bad credit, cseh, dirty job, divorce, dvdrip xvid, eddie cibrian, Fannie Mae, FHA, fico, fico scores, General, island business news, job, loan processor, long island business, long island business news, mortgage, mortgage applications, mortgage info, mortgage news, mortgage rates, new mortgage, parsippany njDocument Fees 370.00
Loan Processing Fee 595.00
Underwriting Fee 595.00
theses are the only loan fees, no other origination, appraisal fees, etc..
right there are other fees like for escrow/title but I was only concerned on the loan fees.
This is a small complicated, so bear with me.
I am trying to buy a home. After receiving a pre-qualified letter from a bank, I applied for a mortgage. I was recently turned down for the loan (too low income), but was told by my loan officer at the bank that I may be approved for a different, FHA loan.
I received a phone call from her today with what I thought was news telling me that I was approved for the loan. She mentioned the word "commitment letter" and said I'd have to sign more paperwork, because it was an FHA loan. She said congratulations, I said I was relieved.
But a few hours later, my loan processor at the bank left me a message telling me that the appraiser needed to change some paperwork because it is an FHA loan, and "then it will be sent back to underwriting for review."
Did I get the loan or not? After receiving that message, I immediately thought that maybe I somehow misunderstood my loan lady, and she was really telling me that I was re pre-approved for the FHA loan.
I didn't reckon I had to be pre-approved again; I already was in the first place! Now I'm really confused, and have no thought what to reckon. It's Memorial Day weekend, so both of them have already left until Tuesday.
What do you reckon?? Thanks so much!
Thanks for the fantastic information so far. I'm aware that my "pre-qualified" letter that I received in march when I started this whole process is NOT a loan commitment.
Also, the bank already has all of my information (I was denied a conventional mortgage just a week ago with them).
Thanks again.
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