Zillow Advice: FHA and VA Loans - Is a current Loan FHA or Not. http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ Zillow Advice | Zillow Real Estate Michael,Let's clarify. There ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ Michael,<br/><br/>Let's clarify. There is no such thing as an <a href="http://www.zillow.com/fha-loan/">FHA loan</a>. There are however loans that are FHA insured.<br/><br/>As many of us mortgage professionals know, information on the <a href="http://www.zillow.com/mortgage-glossary/Credit-Report/">credit report</a> is not always accurate. I have personally seen FHA insured loans classified as conventional loans on the credit report.<br/><br/>In order to find out if the original loan was insured by FHA, you will need a copy of the note as it will provide 3 key facts that are required for the streamline. The three items that you will learn from the note are 1) existing FHA case number, 2) original loan amount&amp;3) original <a href="http://www.zillow.com/Mortgage_Rates/">interest rate</a>. Furthermore, you will need a copy of settlement statement especially if the old loan was used for purchase money.<br/> Sat, 07 Feb 2009 18:47:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-07T18:47:00Z "Streamline has to be an ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ <em>"Streamline has to be an existing <a href="http://www.zillow.com/fha-loan/">FHA loan</a>, right?"</em><br/><br/><strong>Actually, there are also "streamline" Fannie to Fannie and Freddie to Freddie <a href="http://www.zillow.com/refinance/">refinance</a> transactions as well. Currently most are only offered by the original&nbsp;investor if they are still servicing the <a href="http://www.zillow.com/mortgage/">loan</a> (along with other criteria). Fannie is about to expand the concept with the release of DU version 7.1 on April 4th with "DU Refi Plus".<br/><br/></strong> Sun, 08 Feb 2009 05:22:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-08T05:22:00Z Michael...I am sorry if you ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ Michael...I am sorry if you misunderstood my post.&nbsp; I was referring to James who felt the need to correct your statement.&nbsp; It was more of a retort to some of the other moronic statements he was making Sat on a couple of other threads.&nbsp; I was totally behind you asking the question. Sun, 08 Feb 2009 05:07:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-08T05:07:00Z Furthermore, for those of ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ Furthermore, for those of us who do not do <a href="http://www.zillow.com/fha-loan/">FHA</a>, or should is say affliated with HUD, James did give me the most insightful answer. And oh by the way, when <a href="http://www.zillow.com/directory/lenders/">mortgage brokers</a> go under a national license, perhpas you folks who have not taken the time to&nbsp;put in some personal development will have more work to do than those who have done so, &nbsp;to qualify for the licesne. But, you probably alwasy fall back on give the client what they want and close the <a href="http://www.zillow.com/mortgage/">loan</a>. Not perhaps what might be in the best interest of the Client, So yes I stand behind the CMPS, CLA, CRMA, and soon to have CRMS. Sat, 07 Feb 2009 20:37:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-07T20:37:00Z Man, you folks with your ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ Man, you folks with your insults-It just means that I do not do <a href="http://www.zillow.com/fha-loan/">FHA</a> insured <a href="http://www.zillow.com/mortgage/">loan</a>. You all knew what question I asked, FHA, FHA Insured, what ever. Can't you folks just answer the question with out getting a dig in, which is only to make yourselves feels beter. Maybe you all should have gold Ribbions for you whitty retorts. Sat, 07 Feb 2009 20:30:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-07T20:30:00Z Clay...For those that have ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ Clay...For those that have these designations, maybe the more letters, the less of a pompous ass you are.&nbsp; Leave it to Mr CMPS to try and distinguish himself by ranting semantics.<br/><br/>Michael..Excellent as I am sure there are a lot of people hearing about this program and wondering if they can qualify.&nbsp; I would say 99% of the people who have one know that they have a <a href="http://www.zillow.com/fha-loan/">FHA</a> loan.&nbsp; If not, looking at the note is the easiest way to tell.&nbsp; No need for the settlement statement Sat, 07 Feb 2009 19:02:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-07T19:02:00Z I noticed Michael has 7 more ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ I noticed Michael has 7 more letters of credentials than James, on top of both having " cmps " designations, yet James is&nbsp;coaching Michael. Does that mean none of&nbsp;those letters mean much?&nbsp; Sat, 07 Feb 2009 18:54:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-07T18:54:00Z Also, on the first page on ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ Also, on the first page on the top corner of the current <a href="http://www.zillow.com/mortgage/">mortgage</a>, it will say <a href="http://www.zillow.com/fha-loan/">FHA</a> Case No.<br/><br/>If your County Recorder is online and has images, you can view it.<br/><br/>Also, look for an odd looking number on the original balance, <a href="http://www.zillow.com/fha-loan/">FHA loans</a> are usually financed down to the dollar. ex: $126,846<br/> Sat, 07 Feb 2009 14:44:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-07T14:44:00Z 1st it would designated on ... http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ <p>1st it would designated on the <a href="http://www.zillow.com/mortgage-glossary/Credit-Report/">credit report</a> as <a href="http://www.zillow.com/fha-loan/">FHA</a> and 2nd the <a href="http://www.zillow.com/mortgage-glossary/Borrower/">borrower</a> should know as its marked as FHA on their HUD 1<br/><br/></p> Fri, 06 Feb 2009 21:19:00 GMT http://www.zillow.com/advice-thread/Is-a-current-Loan-FHA-or-Not/196582/ 2009-02-06T21:19:00Z