FHAmortgage.org Disclaimers

FHAMORTGAGE.ORG IS A MARKETING LEAD GENERATOR WITH ITS MAIN OFFICE LOCATED AT 26 BLUEBERRY HILL RD, BEARSVILLE NY 12409. FHAMORTGAGE.ORG IS A NOT A GOVERNMENT AGENCY.

HOW DOES FHAMORTGAGE.ORG EARN MONEY?

FHAMORTGAGE.ORG DOES NOT CHARGE THE CONSUMER ANY FEE FOR ITS SERVICES. WE EARN OUR REVENUE FROM OUR NETWORK OF LICENSED MORTGAGE LENDERS WHO PAY US TO MATCH CONSUMERS WHO ARE LOOKING FOR PRODUCTS THAT THEY OFFER. THE CONSUMER WILL NEED TO PAY THE LENDER ANY FEES FOR PROCESSING AND CLOSING COSTS.

WHO IS THE FHA AND WHAT DO I NEED TO KNOW?

The FHA (Federal Housing Administration) offers government guaranteed mortgage loans. They insure the loans that authorized lenders provide to you. Thus, if a consumer defaults on an FHA loan the lender is protected to a certain degree by the FHA’s guarantee.

When you choose an FHA program you will pay a mortgage insurance premium (MIP) both at closing and monthly with your mortgage payment, until such time as your loan to value ratio is reduced to a prescribed low level.

This MIP enables lenders to be more flexible in offering loans to consumers who ordinarily would be seen as too high a risk. However, consumers must carefully assess the possible increased costs of these government insured loans, and ensure that it is the right and best product for them. Sometimes, conventional (non-government) financing can be obtained without the insurance premiums for qualified borrowers.

FHAMortgage.org provides such information to help consumers make educated decisions with complex and hard to compare mortgage products.

Lending advantages of the FHA Programs include:

• No income limits
• More flexible credit guidelines
• Flexible income and debt guidelines
• ARM and Fixed rate loans
• County based maximum loan amounts
• Low down payments

CAN I REALLY GET THE ADVERTISED RATES?

The Disclosure section of this website will give full information about the advertised programs, rates and APR. Interest rates and terms are from a lender or lenders with whom FHAMortgage.org may match you and who offer the particular advertised product. Interest Rates advertised are current as of the date posted, but available rates can change during the course of a day. FHAMortgage.org is NOT a lender in any transaction and does not make loans, lock rates or make credit decisions. The ability to make a loan, lock a rate, offer a credit approval are given only by the authority of a licensed participating lender, and will vary based on the loan you have requested, you particular financial profile and the lending criteria determined by the lenders with whom you are working with. Every consumer will not qualify for advertised programs and rates.

Additional Disclaimers

1. We do not offer any guarantees. We do not offer any loan modification or foreclosure prevention services. We charge no upfront fees of any kind. We do not ask users to surrender or transfer title. We do not ask the user to bypass the lender. We do not encourage users not to contact their lender, lawyer, credit counselor, or housing counselor. We comply with all state and local laws and DO NOT have any affiliation with any mortgage modification or foreclosure prevention services. We do not have any affiliation with any Short-term loan providers. We only connect you with approved loan officers that can help you with purchase financing.

2. We have no affiliation with the government or FHA. We only match you with FHA approved lenders.

3. We are NOT lenders – we do not take mortgage application. We only require basic contact information to match you with a local FHA lender which will then take your full application.

4. We do not issue credit of any kind.

5. Most people will get a path to homeownership which will be detailed to you by your assigned local FHA loan officer. They will explain how you can get approved and if any items need to be paid off or fixed in your profile. If you follow the path and plan your FHA loan officer has set for you there should have no problems in your process. Note that it does take longer to get approved with an FHA approved lender.

6. FHA lenders do accept bad credit or adverse credit applicants. There are however some factors such as a recent foreclosure or a default on federal debt that will prevent you from approval. Ask your FHA loan officer about your case since each applicant is different and everyone has a unique situation. No matter what your situation your FHA loan officer will detail to you what your path to homeownership entails.

The Process /User Experience

1. You request a free consultation on our site for a FHA mortgage product.

2. We take your basic information and match it to a local FHA loan officer which is fully licensed to work in your state. Out of no more then 4 Loan Officers you choose the one that has the best offer for your situation.

3. Your FHA loan officer will call you to arrange your consultation so please be sure to provide a valid phone number.

4. After your initial consultation you will then go on to an official mortgage application if you agree to the terms and conditions of your loan officer and underwriting bank.

5. You will either be approved or given a path to homeownership here.

6. Once you have completed the credit requirements the FHA loan officer will scheduled an appraisal of the property to determine its real value.

7. Sale price is either adjusted or accepted with the seller.

8. You will be required to shop for home insurance and have it active before you close.

9. Closing – once all conditions are met you will be ready to close. Your downpayment and closing costs will be released from escrow and you will own the house.

10. FHA loans have PMI for the life of the loan – this is private mortgage insurance which is a guarantee for the bank in case you default. The PMI for FHA mortgages is much less then commercial mortgages because the FHA is also backing the loan.

11. Make your payments on time each month and enjoy your home. Note that if you miss payments you risk foreclosure.

New Eclipse Enterprises Inc, 26 Blueberry Hill Rd, Bearsville NY 12409