I hear that some mortgage companies want to get FHA approved, but having some problems. Fill out the necessary paperwork to get the FHA license is not so difficult. However, two requirements seem to cause some difficulties for mortgage companies seeking FHA approval.
First, you must meet specific financial requirements strong. Second, you have to get the ticket company to complete the required HUD approved financial.
Cpas to do this kind of work are starting to get pretty busy doing just this FHA work and are asking a hefty price to complete Financial. I’m hearing that CPA firms are charging as much as $ 2,500 to $ 5,000 to complete this Financial. Some people out there are offering to do this for $ 1,000, but it’s probably the lowest prices you will see out there and you need to negotiate hard to get the economy made for $ 1,000 or less.
Another shock can finish FHA Quality Control Plan. There are companies out there that can prepare for you and that may be the best solution. Shop around a bit to compare the prices of these QA programs. Also make sure you are satisfied that your company can do everything that the plan says you must do it to read the plan carefully and comment before telling HUD that you have the following specific QA program.
Given the tightening of available mortgage products to individuals with less than perfect credit or with limited equity in their homes are FHA loans were the best source of new loan originations for you and your mortgage company.
To learn more about specific requirements to qualify and apply for an FHA license, download my brand new free guide here: How to Get a FHA License