Help which bank should I use for a FHA loan???

[Anonymous]

I'm looking for a FHA loan, and I don't know which bank to go through. Does it matter whether I choose a big bank, small bank, or credit union? Is it true that ALL credit reporting agencies count mortgage inquiries within a 14-day period as only 1 hard pull?

[athensguy]

Yes, and most scoring systems count them as one pull within a 45 day window.

Any mortgage pulls within the last 30 days are not counted in scoring.

[DallasLoanGuy]

get a referral from frineds/family or coworker. someone you know has certainly bought recently

[recoverychick]

There's a list of lenders on the FHA site.  Enter your zip code and it will display the approved lenders in your area.  If you can meet automated underwriting, It seems it would be better to go with a bank than a broker.

I refinanced to an FHA loan.  If I had been ready for the appraisal (I had been straightening instead of cleaning, plus my dog sheds and the shrubery needed trimming) I would have been finished in 3 weeks.  Even came to my office to close my loan so I didn't have to drive.

Good luck.  

[Anonymous]

I am in the middle of an FHA loan, and we are working directly with a bank, and my brother in law, who is a real estate attorney. So, we did not use a broker or a realtor at all. It is taking me a little longer, and getting questions answered are often met with impatience, but I think we made the right decision. Remember that you can shop the rate a little, and make sure you are very comfortable with whomever you choose to work with. Also--make sure that the LO is VERY comfortable with FHA. Ours does not seem as comfortable, and as had to research a few things for us, which made me a little uncomfortable. You definitely want experience-- It makes a big difference, in my opinion. Good luck--I knwo how stressful this can be. Lisa