Help Getting an FHA Loan in Wake Co.

FHA loan limits just went up in Wake County to $295,000. Does that mean every loan officer can help you with an FHA loan? No.

FHA loans are only offered through a Mortgage Banker or broker approved to do business through the FHA. Because of the audits, and additional costly quality controls required to have your FHA designation, many brokers have not gone through the process to be approved. Those who primarily did subprime loans in the last 10 years – certainly have not done an FHA loan, and it’s important to understand what experience level your loan officer and their staff have with this program.

It’s not that FHA loans are so complicated – but they are wildly different from the way you process and calculate other loans. Since we have a 13 year old in Algebra/Geometry this year I can say for certain that just because you can do one – doesn’t mean you won’t need some help with the other.

I am a Delegated Underwriter for FHA, and have had that designation since the late 1980′s. I work with my husband, Steve and he also has 20 years of experience with FHA loans. An inexperienced loan officer might not know, for instance, that there are fees associated with a mortgage that FHA does not allow borrowers to pay for.

click here to find out the FHA limit in your county.

If you have questions about an FHA Mortgage in Raleigh, Cary, Apex contact Steve and Eleanor Thorne 919-649-5058