HUD Articles

Get to Know Your Lender!

When buying a home, it is important to know about the different types of mortgages, and which one might be good for you.

There is also an issue of which type of mortgage is best for certain homes.  Just because you may be qualified for an FHA loan, does not mean that the home will qualify for an FHA loan.  It is important that your lender is willing to sit down and talk to you, so that you are aware of what your preapproval letter says, how much money you need to close, if you need seller concessions, if your preapproval will cover a fixer upper, a manufactured home,  a home not zoned residential, a home with a second garage, etc.  Also ask if they work after 5pm, and do they answer calls on Saturday and Sunday.  Please do not leave anything to chance, and make sure that your questions are answered.