Are you looking for loan options with lower down payments and less stringent requirements for your home purchase?
An FHA loan may be an excellent choice for you.
FHA loans are a home financing option that’s perfect for borrowers looking for lower down payments and less strict requirements. When you choose an FHA loan, you either go through a mortgage office like Integrity Mortgage LLC (NMLS #1692497), or you can directly approach the HUD-approved lenders who offer competitive interest rates. The government backs these loans. However, they are made available from a private lender. In case of a default, the government secures the lender.
You can apply for an FHA loan and find out about FHA-approved lenders all online. Some people are able to close the case online as well. However, we recommend applying for an FHA loan via a reliable agent like Integrity Mortgage (NMLS #1692497).
Let’s take a closer look at the FHA loan application process and find out more about how you can apply for an FHA loan with Integrity Mortgage (NMLS #1692497).
The FHA Loan Application Process
Step # 1: Find a Lender
The FHA loan application process is a multi-stage process that you can complete online. The first step requires you to find an FHA-approved lender. You can find several banks, credit unions, mortgage brokers and online lenders as FHA-approved lenders; however, finding the right lender depends on several factors.
First is your credit score. Some lenders accept a minimum credit score of 500; however, if you have a low credit score, the minimum FHA requirement is 580 and even 600 in some cases. Secondly, you should also consider how often you would like to interact with your lender and how. Do you prefer in-person interactions, or are you comfortable interacting over the phone? If you prefer to interact virtually, you can find several lenders.
Step # 2: Submit Your Application
Once you finalize the lender, the next step is to submit a loan application. Some lenders may allow you to apply online. Once you apply, your lender will check your credit before providing you information about the interest rate and issue you a pre-approval.
Step # 3: Provide Your Details
Following the pre-approval, you will be required to provide your basic information along with your property details. Some of the information that you should keep handy while applying for an FHA loan include
- Your full name and Social Security Number,
- A copy of any state-approved ID,
- Relevant information about your employment and income,
- The property address and
- The purchase price and down payment amount for your property,
Step # 4: Compare Lender Estimates
Once you submit your loan application, you can expect your lender to provide you with an estimate for the loan within three working days. If you have approached multiple lenders, they will all provide you with the estimates that you can compare and choose the lender that provides you with the best numbers.
Applying For An FHA Loan With Integrity Mortgage
When you apply for an FHA loan with Integrity Mortgage (NMLS #1692497), it is a one-step process, and all you have to do is to get in touch with us, and we will take care of everything else that follows.
Get in Touch with Integrity Mortgage
The first step to getting an FHA approved home loan is to get in touch with Integrity Mortgage (NMLS #1692497). By seeking the services of Integrity Mortgage (NMLS #1692497), we help you find the FHA loan right for you.
Applying for an FHA loan with Integrity Mortgage (NMLS #1692497) is a one-step process where you just get in touch with us, and we will take care of the rest. To learn more about FHA loans and how you can apply for them, contact Integrity Mortgage (NMLS #1692497) today.