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FHA Loan Approval Process

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FHA Loan Approval Process

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  1. FHA Loan Approval Process FHA Loans are approved under guidelines set by  Federal Housing Administration. Here is an outline of FHA Loan approval process: Pre-approval: Getting pre-approved for an FHA Loan helps to determine qualification for the loan and borrowing capacity of an applicant. Application: Filling a loan application requires information about income sources, house expenditures, current and previous employers, credit history, etc. Property Appraisal: Property appraisal is done to know the market value of the house. It is also done to make sure that the property meets HUD's health & safety standards. Underwriting & Documentation Review: It is done to analyze paperwork, income, credit score, and other factors. Approval: Once you are declared 'clear to close' by underwriter, the loan process moves towards closing and financing, where you have to sign papers, pay closing costs & receive ownership of the house. 107 W. Hwy. 190 Copperas Cove, TX 76522 254-542-5100 2201 Trimmier Rd. Killeen, TX 76541 254-680-6158 3106 S. WS Young Dr., Bldg. D, Ste. 402 Killeen, TX 76542 254-953-7000 14641 S. Padre Island Dr., Ste. B Corpus Christi, TX 78418 361-949-4647 10961 Gateway Blvd. West, Ste. 200 El Paso, TX 79935 915-843-2681 8522 Broadway St., Ste. 208 San Antonio, TX 78217 210-340-0404 1320 N. Zaragoza Rd., Ste. 111 El Paso, TX 79936 915-858-1996 7348 W. Adams Ave., Ste. 200 Temple, TX 76502 254-771-0020 201 E. Central Texas Expwy., Ste. 1600 Harker Heights, TX 76548 254-680-6155 16165 North 83rd Ave., Ste. 200 Peoria, AZ 85382 480-752-3110 100 W. Central Texas Expwy., Ste. 300 Harker Heights, TX 76548 254-690-3765 www.fcmloans4u.com Image Source: Designed by Freepik

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