Is it easy to get a FHA loan?

Question

Is just seems no loan officer wants to fool with you if your home loan is less than 50,000. Dont understand why? The house should appraise for at least 80,000. Being a Hud home just looks like FHA would be the way to go??

Answer 1

Hello. I am currently a Mortgage Officer for Huntington Bank.



I would be more than willing to work with you on obtaining an FHA Loan.



Feel free to email me questions at [e-mail].



or check out my companies website @ Huntington.com



Look Forward to hearing from you,



Luke Schuster

Answer 2

I'm a mortgage broker and the REASON WHY is that most lenders minimum loan amount is $50,000 and in most cases the fees charged add up so quickly as a percentage that the Section 32 (high cost) law comes into play, thus resulting in most greedy loan officers not wanting to spend the time required to close your loan because its not worth the little amount of $$$ they will make.



Two options .... FHA is a good loan take it if the terms are good OR if you are not putting $ down and doing essentially 100% financing of the purchase price then find the best loan and terms with or without PMI then in less than 6 months time refinance into a conventional loan utilizing your new found equity. This will result in the best long term loan for your situation.



Goof luck

Answer 3

I am a loan officer with several years of experience originating FHA loans. I can be contacted at [e-mail] or you can check out our website at www.mortgageexecutivellc.com. Good luck!