Is FHA a reputable mortgage company?
- Expert8675309Lv 71 decade agoBest Answer
FHA does NOT make loans.
The local lenders make them and the insurance that insures the loans is regulated by FHA in the form of MIP.
FHA is no more difficult to undewrite or close than any other lloan. Only those that have never worked with them or are inexperienced with FHA loans think they are difficult.
FHA does set the underwriting guidelines but Fannie and Freddie purchase the majority of FHA loans.
Neither Fannie or Freddie are gov't agencies....they are corporations.Source(s): former FHA underwriter
- Anonymous1 decade ago
It’s not a mortgage company; it’s a type of loan that is insured by the Federal Housing Authority. It’s a decent program for first time homebuyers, but taking this type of mortgage limits you only to the sellers willing to deal with FHA bullsh--.
- RangerLv 71 decade ago
Federal Housing Administration. About as reputable as the U.S. Government, since that is what it is.