how and where should i apply for FHA Loan?

Profile picture for seemazeem
how and I am first time buyer and no clue about purchasing a home please tell me how and whrer should i start my process..

 where should i apply for FHA Loan and Escrow could it be one financial company?

I am looking for the properties on my own right now have not consult any real state agent yet. 
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July 11 2009 - Richardson
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when a Realtor says they can "put you in touch with Realtors..." you can rest assured that agent is going to get a referral fee. Interview your own local Realtors, NEVER let an agent from somewhere else put you in touch with someone... negotiate your own local commission.
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July 11 2009
Profile picture for JillyG
Aloha - You have a large learning curve ahead of you and the best way is to find a Realtor that you enjoy working with and they can recommend a good mortgage broker who can help you with your FHA loan. I can put you in touch with Realtors in your area if you like.

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July 11 2009
Profile picture for Bob Lowery
seem, there are bad internet lenders and good internet lenders.  There are bad local lenders and good local lenders.  Picking a company and researching their history is important.  Picking a LO is even more important.  Referrals are the best.  However, if you don't know of anyone, the internet can be very helpful.  Not only does it allow you to research the company, but it allows you to research the LO... and this is a very good tool.
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July 11 2009
Profile picture for Bob Lowery
You are being discredited because your initial advice was horrible.  However, your advice now is much better.  Think twice before you discredit internet lenders on an internet site with lenders...

By, the way....I don't lend in Texas.  I am a Maryland lender and I only quote in Maryland.  There are many internet lenders on here that lend nationally and many other local lenders that are sound.  This is why Zillow offers the opportunity for customers to leave feedback.

Linda, you are obviously new to Zillow and don't understand how the Zillow lending side works.  Do us all a favor and stick with real estate.
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July 11 2009
Profile picture for Linda Gasaway
Seemazeem, Texas has it's own rules when it comes to financing loans, and not all Internet lenders are savvy to this.  I would be leary of info coming from someone who tries to discredit another for the purpose of puffing himself up.  As an agent, I've seen the deals fall through due to the negligence of out of state lenders.  Just be careful of who you are working with and ask where they are located. 
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July 11 2009
Profile picture for Bob Lowery
Linda, I find it humorous how you say not to use the internet kind, yet you use this free internet service to promote yourself.  Very interesting.

seemazeem, I would not pay attention to Linda's advice.  She is obviously not aware of Zillow and is not within her field of expertise since this is a lender question. 

There are many lenders on here that have great track records.  You can fill out a loan request and get several quotes.  Each lender has feedback, so you can view and see if you would like to work with them.

Many lenders may be local and still be able to meet with you.  I have closed several loans with folks on Zillow and have met every single one of my customers face to face.
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July 11 2009
Profile picture for Linda Gasaway
The banks are taking a lot longer to respond these days, so I would contact your lender immediately to get a pre-approval letter.  Also, stay with local lenders and not the Internet kind so that you have a name, number and face to deal with and not a "corporation."  You might also want to check your credit report and make sure it's cleaned up before you ask the lenders to provide you with a loan.  It can impact your interest rate.  Are you wanting to stay in Richardson?
Happy House Hunting!
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July 11 2009
 

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