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RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 28356
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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Im looking for a property to live in. And im looking for an

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Im looking for a property to live in. And im looking for an FHA loan to reduce cost of a down payment. What are the steps I should take? Should I go through a broker? Agent?

Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help with your question and concern

Good morning. Yes, you should start by speaking with a mortgage broker and finding one who handles and deals with FHA loans. You want to see what you are pre qualified for, so you know what price range to look in. In addition, you want to use a realtor, to help you locate and find properties, in your desired area and price range an that WILL accept FHA financing. Some buyers will only want conventional loans or VA loans, so you just want to make sure a FHA loan will not be an issue.

Customer: replied 29 days ago.
Hi, thanks for the response.Should I go through the agent thats representing the property for sale first? Or should I hire a mortgage broker to find a property for me and broker a deal?

The mortgage broker will only be involved with the financing / FHA loan. You want to hire a realtor, to find you the home. If there is a property which you like and see is for sale, you can contact the listing agent and speak with them. They would likely be willing to represent you and the seller.

Customer: replied 29 days ago.
Ok, is there any service, or freelancers I should avoid?

I think you need to speak with a few brokers and see which one you feel the most comfortable with. Ask them what their fees are and the process to obtain a FHA loan and select which one you feel is best. Moreover, when you speak with the realtor, as them if they have any in house companies they work with, to help. Often times, they work with one or two brokers all the time, who can get the deal done.

RealEstateAnswer and 3 other Real Estate Law Specialists are ready to help you
Customer: replied 29 days ago.
ok thank you.