With FHA Mortgage Loans, as in all mortgage loans, the underwriter has all the power and can basically "approve" or "kill" the deal. the FHA underwriters are a breed apart in both training and their ability to "interpret" the FHA loan guidelines. An FHA Underwriter must verify all of the information that is submitted on your Loan Application.

FHA Underwriters have certain "guidelines" that serve in the decision making process that they go through to determine the over-all "credit worthiness" of any individual FHA borrower. Many factor impact the FHA Underwriter final decision as to say "yes" or "No" to a potential borrower, BUT the main determining factor is the borrowers ACTUAL ABILITY TO REPAY THE LOAN. imagine that, an FHA underwriter actually expects a borrower to "pay-back" the money that is borrower. the nerve of them. If all Underwriter used this common sense approach, then we , as a country may not be in such a terrible housing slump, but I digress. Not only are your (the borrowers) debt to income ratio's analyzed (DTI) but also "other" factors can come into play IF the borrower is marginal. These "compensating" factors include, but are not limited to; length of time at your current job, (length of time living in your present house IF it is a refinance), amount of your down payment, your ability to demonstrate that you can and know how to save money (in an account and not under your pillow or borrowing from someone) your likelihood that in your current occupation, that there is room for advancement and growth so that you may be able to make more money in the near future, demonstration that you have been paying a higher amount (and paying on time) your present rental payments. All or some of these, what are called may make or break the FHA Underwriters final decision as to the "overall ability of a particular borrower being credit-worthiness under FHA standards.

As you can most likely see by now, it is the FHA Underwriter that really controls the entire approval process. Now I realize that many Mortgage Brokers, Mortgage Bankers, Mortgage Loan originators and or even Mortgage Loan Processors MAY think that they control it, they do not. For oblivious and stated above reason the FHA Underwriter is worth his or her weigh in gold, so much so, that you as the borrower, will most likely never be able to speak directly to one as will be protected/shielded for any/all angry borrowers that may get turned down. Speaking form experience, my in-house FHA Underwriters are the best in the business and allow me to properly present my clients "best foot forward". Now I am not saying all my FHA in-house Underwriter will approve all of my FHA Loan Applications, that just is not true. But having an exceptional working relationship with my FHA Underwriters can do nothing but help the customers of mine that are 'border-line".

The only way to know for sure IF your be FHA Approved is to submit an Application and as a last word of advise, be wary of any/all companies who charge and or collect fees up front, then what is their motivation to actually work hard to get your loan approved? I once worked with a young couple who came to me after they had been turned down by another lender AFTER they paid an "up-front" fee of $ 1500.00. wow, I told them, that i do not even make that much on a loan that actually "closes" and if i were to charge or make that much money in advance of doing any work, then i might be tempted as well not to do to much either. i mean if a Mortgage Broker/Banker/Originator makes the same money regardless of f you ever get a loan i down right dangerous and pretty silly to boot.

There are and never is any up-front fees with the FHA Connection, we absorb all costs in hopes that we can assist you with your FHA Mortgage needs. So give us a try and "tell a friend".

Call 1-678-770-5046  or submit on line, either way, we are the FHA CONNECTION