Hi everyone. We recently learned Navy Federal is no longer providing FHA loans. So, who’s the best FHA loan provider? My credit scores are shown below. We’re located in Maryland and looking to purchase a home with a max value of $650k, hopefully through a credit union. However, we aren’t military or members at any other credit union. Looking for a lender that’s quick yet efficient because we have two homes we’re deciding on but need a preapproval letter. I will be the only one on this loan, my husband is saving his credit profile for investment properties. I applied two years ago with NFCU for a FHA and was approved up to $750k but we didn’t find a home back then. My credit utilization is 3% and that’s just because I heard 0% credit utilization was just as bad as a high credit utilization. I have a student loan and a car payment but that’s all. Last negative was 3 years ago. I have heavy inquiries because I was shopping around for a high balance credit card. My credit history is short, about 2.5 years because my student loan was consolidated and then closed which was my longest account history (yikes). I just recently started getting credit cards but I don’t use them, only once every 6 months so they don’t close the account. Any help is appreciated.
Current Score: 
Montgomery County Limits for FHA Loans in Montgomery County, Maryland are $765,600 for 1 living-unit homes
High balance loans are ugly right now through the investors eyes as there is a lot more risk and their pricing is not good nor is it bad.
Rates are about 3.5% for 30 yr fixed FHA and cost for the rate is just over a point. As long as your DTI is there you shouldn't have a problem in getting a loan. Pre-approval letters can go out the same day as your application
@MzChrissy wrote:
Hi everyone. We recently learned Navy Federal is no longer providing FHA loans. So, who’s the best FHA loan provider? My credit scores are shown below. We’re located in Maryland and looking to purchase a home with a max value of $650k, hopefully through a credit union. However, we aren’t military or members at any other credit union. Looking for a lender that’s quick yet efficient because we have two homes we’re deciding on but need a preapproval letter. I will be the only one on this loan, my husband is saving his credit profile for investment properties. I applied two years ago with NFCU for a FHA and was approved up to $750k but we didn’t find a home back then. My DTI is 3% and that’s just because I heard 0% DTI was just as bad as a high DTI. I have a student loan and a car payment but that’s all. Last negative was 3 years ago. I have heavy inquiries because I was shopping around for a high balance credit card. My credit history is short, about 2.5 years because my student loan was consolidated and then closed which was my longest account history (yikes). I just recently started getting credit cards but I don’t use them, only once every 6 months so they don’t close the account. Any help is appreciated.
They do have a Homebuyers Choice and also 5/5 arm with no down payment. But my FHA Loan is through BOA.
Thanks everyone. I decided to put in an application with Embrace, Caliber, and PenFed. If anyone has experience - good or bad - with them, please let me know. I am a federal employee and hopefully I'll look favorable to lenders with "stable employment." I did speak with one loan officer at Embrace and was informed down payment assistant programs were all frozen until June 30th. I only qualified for one program (Housing Opportunities Commission of Montgomery County), other programs either had an income limit or sales limit of $518k. Regardless, all down payment assistant programs with their bank comes from United Bank and they are waiting to see when life returns to "normal" to start back originating loans with down payment assistance. As far as Navy federal goes, I applied with them on Monday 4/20 and as of today, 4/24, I have not yet heard from anyone. Yet I applied with Embrace last night and was immediately contacted by a loan officer (referred by a family member). I only learned NFCU was no longer processing FHA loans while reading another person's post.