Can I get the FHA loan process by 2 seperate company for same property?
I have identified property and applied for the FHA loan.
The company A is working on to get the loan approved.However now they everyday come up with something new..like some charges and conditionally approved thing.
When I try to call to get the clarification on the number breakdown , I am not given the clear explanation.
My question is:
Can I get the FHA loan processed by an other Lender ?
Can I choose the best from the 2 and finally close with the Best one
Or will it be illegal to get the papers processed by the second one, when first one is already processing it.
I will be at the loss of $5k if i go by A , and can save the same amount if I go by B?
Any help, pointers, suggestions are greatly appreciated.
- Appraiser guyLv 69 years agoBest Answer
No FHA only issues one FHA case number. If the property has been appraised then the FHA case number has been issued to the current lender, the only way a 2nd lender could take over the loan application is if the first lender releases the case number.Source(s): Certified FHA appraiser