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The Federal Housing Administration assigns a unique id to every fha loan


The process of underwriting your fha mortgage loan involves applying for a case number through fha.

The role of  fha mortgage loans is growing rapidly in the current housing market. FHA loans provide home owners the opportunity to finance over 95% of the value of the home on a purchase and up to 95% of the value on a cash out refinance. There are few programs in the current credit markets that are as flexible for potential applicants as fha mortgage loans.

Once you have applied for a mortgage through an fha approved mortgage lender, they will obtain a specific case number for your property or proposed property through fha. It is important to understand that the fha does not directly offer mortgage loans.

A consumer who is shopping to try to get the best mortgage quote for an fha mortgage loan should be cautious before making a commitment to a mortgage lender. A home owner is only allowed to have one fha case number on a property. Therefore, if you apply for a mortgage with a lender, and then decide to switch mortgage lenders, you will have to have your fha case number reassigned. This process can take extra time and potentially result in missing a closing date if you are trying to purchase a home. FHA mortgage loans require an appraisal by an fha approved appraiser and the subject property should be free of material defects and deffered maintenance or you may not be able to close on the loan until the property is brought up to these requirements.


8-16-2008 ? LoanNetwork.com





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