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How do I find an fha lender?

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Anonymous
Not applicable

How do I find an fha lender?

I'm working on my credit, but won't be applying and buying for 6 months.

I live in Illinois and don't know how to find an fha lender, do I just call banks to see if they are certified to do an fha loan?

Also my mom said that you can use grants (like first time buyer) as a down payment on a house, I have 1000.00 in savings and was planning on saving for another 6 months so my down payment is more than the standard 3.5 percent (hopefully 10%)

Does anyone have any good tips or pointers for a person who will be doing their first ever home buying in 6-8 months?
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2 REPLIES 2
StartingOver10
Moderator Emerita

Re: How do I find an fha lender?

Since you plan to use a down payment assistance type program, the place to start would be with the program requirements.  It is common that those programs have limited lenders that can or will participate.

 

To find the program requirements google (or your favorite search engine) "your county/city/state name + first time buyer down payment assistance program" or something similar and you will see various programs. Some are county programs, some are city programs and some are state programs. Each program has its own guidelines. Most are income restricted based on the number of household residents. Some are zip code based.  Most restrict assets too. Read each program and its requirements to see what is a best fit for you.

 

You may have to call or otherwise contact the program admin to see which lenders are preferred.

Message 2 of 3
ezdriver
Senior Contributor

Re: How do I find an fha lender?

Also ask a few Realtors in your home town area. Some of them may have worked with buyers using downpayment assistance programs and can help you navigate the possible sources and processes.

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