Getting FHA license

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mtgbeast

44 Posts

Posted - 05/08/2008 : 4:13:12 PM

Hi, I am just opening my own mtg company, under my own license- NO FEAR!! (gulp). Anyway, what is it that FHA will look at as far as approving me for a mini-eagle... I know I meet their asset requirements. I believe they only require 2 employees- I have that. Just was wondering about how long they want you in business, etc??? I know they try to protect themselves from fly-by-nights so not sure what their policy is for yrs of service? Any help would be great.

Thanks!!!

habsfan

509 Posts

Posted - 05/08/2008 : 4:31:33 PM

just read the approval guidelines at

http://www.hud.gov/offices/hsg/sfh/lender/lendappr.cfm

if you don't have FHA experience, it may be difficult to find a full eagle to sponsor you. perhaps a call to franklin american, flagstar ot tbw will get you some advise on what they look for.

good luck!!

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