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What is an FHA loan?

Is it good loan? We need to move in 3 weeks and I haven't even begun to be able to gather the paperwork needed. What is the time frame? How do I get last years W2 forms if I can't find a copy and my tax guy doesn't have it?
  • July 19 2013 - Arlington Heights
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Answers (2)

Profile picture for Andrew Malak
It is a government back loan. No. A lot of properties will not qualify for this loan. 50 to 65 days. Contact your your employer for W2. He has to keep it on file for at least years depending in business type.
  • July 19 2013
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FHA Loan is government program and the paperwork required may be longer than 3 weeks.   The house also needs to meet the Fha requirements/guidelines.  Did you sign the Purchase and Sales agreement already? Most loans are closing between 45 to 60 days. The best thing about FHA loans is that you are only required to put down 3.5%.  I hope things work out for you!
  • July 19 2013
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