You’ve applied for an FHA loan and it’s taking forever to close or worse you’ve been denied by the lender. FHA allows you to transfer your loan to another lender. These are the steps you will need to take:
The fastest way to transfer your FHA loan is to call us and get pre-approved over the phone. Within 10-15 minutes we will be able to tell you if we can close your loan. Once you’ve been pre-approved and have completed your new application we will email an online application which can be signed online. We will request income documents, asset, sales contract (if purchase) and pull your credit.
We will prepare your application for underwriting and submit your loan for approval. Normally it should take about 72 hours to get a loan approval. Once the loan has been approved we will work together to get the loan ready for the clear to close.
Items that need to be transferred to the new lender:
We will work with the old lender to get the FHA case number transferred. Once the case number has been transferred it also transfers the appraisal. This usually takes about 1-3 days. We’ll contact the title company and insurance company to get title and insurance updated. This usually takes about 1-2 days.
As you can see it does not take a long time to transfer your loan.
To begin to transfer your FHA loan apply online or call us.
Call 888.958.5382
Mortgage-World.com
