FHA Delay

I’m currently representing two FHA buyers and one FHA seller (the buyer for their property is FHA) and I’m being told from two of the three lenders (all different) that there is beginning to be rumblings that the underwriters and appraisers are running a bit behind.  Gee.  Who could have seen this coming?

With the April 30 deadline coming, first time home buyers out in droves and FHA being the primary source of home financing these days the delays are to be expected, though not hoped for.

The one that is not saying there could be delays?  Well, they have their own in-house FHA underwriting.  Coincidence?  Do you really think so?

If you are still looking to buy ask your lender if they have “in-house” FHA underwriting.

3 Comments

Filed under Financing Options

3 responses to “FHA Delay

  1. Courageous prediction: There will be an enormous amount of first time buyer sales contracts dated April 30, 2010. 🙂

  2. …no matter when in May the contracts were ratified. 🙂

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