Can anyone recommend a lender who specializes in FHA loans?

We need a lender that can get our FHA loan approved asap. We have a low DTI and very good credit score, we shouldn't have any problem getting an FHA loan approved. Our broker doesn't seem to have a clue what he's doing, and just admitted to us that he's never done an FHA loan before. We've been under contract for a month, and have a feeling our file hasn't even been sent to the underwriter yet. Can anyone recommend a good lender?

Update:

Please don't send me any stupid website links that don't relate to my question. Please only answer if you can recommend a specific lender. Thank you!

Update 2:

I'm in washington state

10 Answers

Relevance
  • 10 years ago
    Best Answer

    The largest FHA lender in the U.S. is Quicken Loans, and they will take your application over the phone. I've know several people that have gotten new FHA loans and have also refinanced through them. My son did a streamline refi with them...they approved him within one hour after taking the application. Their rates and fees are very low and they can usually do the loan in record time unless you have issues. They are a "Direct" lender. Also check out Ditek. They are also good, quick, and reasonable.

    I'd first get a quote from both of them.

    I'd stay away from both Wells Fargo and BofA and all mortgage brokers. Always go with a direct lender. WF and BofA have terrible customer service both when you are getting the loan and afterword. How many people here on YA have complained about the slow response that they give with either loan modifications and short pays.....just a word to the wise.

    The Zillow website and those like it are full of suede shoe opportunists huckster mortgage brokers that will over-charge you, give terrible service, and double the length of time for them to do the loan.....then six weeks later either tell you they can't do the loan or that they have to charge you a higher interest rate than they first quoted. Thank goodness many of those crooks have gone out of business, but there still a lot of those bottom feeders around.

  • Anonymous
    5 years ago

    I'm certain that you must find every financial clarification at: loandirectory.info-

    RE Can anyone recommend a lender who specializes in FHA loans?

    We need a lender that can get our FHA loan approved asap. We have a low DTI and very good credit score, we shouldn't have any problem getting an FHA loan approved. Our broker doesn't seem to have a clue what he's doing, and just admitted to us that he's never done an FHA loan before. We've been under contract for a month, and have a feeling our file hasn't even been sent to the underwriter yet. Can anyone recommend a good lender?

  • 10 years ago

    Just shop around at your local banks. Virtually all of them will do FHA loans, especially local community banks and credit unions.

    A broker us useless for government backed loans since the qualification standards are set by the guarantee body not the lender. Deal directly with a local lender instead. You'll get lower total costs in most cases and better service.

    One national lender that I've used in the past is James B. Nutter. They specialize exclusively in FHA loans and won't load you up with junk closing fees. Their rates are not the lowest -- you might get .25% better elsewhere -- but when the total cost is taken into account they are competitive. Here's a link to their website: http://www.jamesbnutter.com/ . I've had 4 loans with them over the years and have always been highly satisfied with their service. They also service virtually all of their own loans so it's not likely that your loan will be sold to someone else.

  • KL
    Lv 5
    10 years ago

    Quicken Loans...that's funny! You'll be out $500 faster than you can say "good faith deposit." Yes, they require a NON-REFUNDABLE $500 deposit! Avoid.

    Since you need to close fast, avoid any huge company like Wells and BofA. Underwriting can take too long. Zillow.com has a ton of small lenders that work with FHA. You can actually submit a loan request and receive loan quotes anonymously. All the lenders have reviews so you can read what past clients thought of working with them.

    Other than that, I can't direct you to a specific lender since I don't know what state you're in...good luck!

    Source(s): I'm a loan officer
  • How do you think about the answers? You can sign in to vote the answer.
  • WOW!!! Run for the hills....get as far away from your current lender as possible. You do not want him to learn the business at your expense! Now to answer the question....working with a large bank can be slow and cumbersome. I am a direct endorsement lender for FHA. If you need experience, a quick close, and an honest assesment I may be able to help.

    California Mortgage Banker

    Source(s): California Mortgage Banker and Broker
  • Anonymous
    6 years ago

    Hi Amy,

    We can help you to close your deal ASAP. We are direct lender specialize in FHA, conventional, VA loans. We can help you to close your deal within less than 20 days. If you want to close this deal faster you can email or call me adaghbashyan@gmail.com or 818-426-1999

    Alvard!

  • 10 years ago

    What state are you in? This loan officer is very green indeed as FHA VA USDA and conforming loans are all there are these days

  • Debdeb
    Lv 7
    10 years ago

    Bank of America does a ton of FHA loans. Most major lenders do them. Lose the broker, you can do it yourself. FHA makes the rules, so you don't need him.

  • 10 years ago

    Wells Fargo

  • Anonymous
    3 years ago

    The same question shows up again

Still have questions? Get your answers by asking now.