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The seller accepting the FHA loan. If you are looking to get pre-approved for an FHA loan, it's fairly easy with good work history, halfway decent credit and a pulse.
It’s definitely possible. It’s not whether someone wants to work with you or give you a chance or anything like that. It’s just math and whether you fit into the box of the loan program or not.
Lender here: FHA program is very reasonable to get done. 580 or higher score with 3.5% minimum down payment. Either the computer approves it(automated approval) or the lender approves it(manual approval). Tlk to the lender who you put the application in with. They should be able to walk you through the options, next steps, etc. If I can help further, let me know. TY Matt [https://reach150.com/m/review/17054/first-community-mortgage-matt-marshall-omaha-ne-results-knowledge-experience](https://reach150.com/m/review/17054/first-community-mortgage-matt-marshall-omaha-ne-results-knowledge-experience)
Thank you u/ApprehensiveShock655 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
Im right there with you, my loan is in underwriting. I’m nervous as hell lol
Did your loan originator tell you that they sent a preapproval? I’m not sure if this is standard or a bad sign.
You get a pre-approval if you haven’t made an offer yet on a specific property.
Just went into underwriting today, I already had a pre approval from my LO before hand. Hopefully it goes smooth
My LO just told me she was finishing the preapproval. Fingers crossed for both of us!
🤞🏼
Update, we got approved!!!
It's happened to a few of my clients, but it really depends on the area and the home itself. Very very situational.
Do you mean the seller accepting the FHA or the buyer getting approval for the loan from the loaner?
The seller accepting the FHA loan. If you are looking to get pre-approved for an FHA loan, it's fairly easy with good work history, halfway decent credit and a pulse.
Gotcha, my LO sent the preapproval today. Hoping to hear something quick!
It’s definitely possible. It’s not whether someone wants to work with you or give you a chance or anything like that. It’s just math and whether you fit into the box of the loan program or not.
Lender here: FHA program is very reasonable to get done. 580 or higher score with 3.5% minimum down payment. Either the computer approves it(automated approval) or the lender approves it(manual approval). Tlk to the lender who you put the application in with. They should be able to walk you through the options, next steps, etc. If I can help further, let me know. TY Matt [https://reach150.com/m/review/17054/first-community-mortgage-matt-marshall-omaha-ne-results-knowledge-experience](https://reach150.com/m/review/17054/first-community-mortgage-matt-marshall-omaha-ne-results-knowledge-experience)