3 Tips to Find the Right FHA Mortgage Lender for You

An FHA loan is a mortgage warranted by the Federal Housing Administration (FHA) and can only be provided by various FHA-approved lenders. For many, the only way to acquire a home is by borrowing the appropriate amounts of cash to pay off the down payment. While the process isn’t as difficult, certain considerations must be taken to ensure a smooth loan procedure and approval. 

If you happen to be one of the many hoping to land that loan approval from an FHA mortgage lender, you may have to take note of the following pointers before even proceeding to their offices with your requirements: 

Learn More about the APR

Annual Percentage Rate (APR) refers to the interest rate of a loan for a whole year. You may have heard of credit card debts that have a monthly interest rate in them for a mortgage, but the interest rates here are usually calculated for the whole year, not on a monthly basis. 

When you approach an FHA mortgage lender, be sure to ask about their APR so that you can compare their offers to the other choices. You have the right to shop for options and choose the one that will not lead to unnecessary fees. Remember, this is just about the interest rates here—you also need to take the principal amount of your payments into consideration.

Review Your Credit Score

You may compare your credit scores to your work’s ID pass. Without the latter, you will not be able to enter your office, rejected by security. The same goes for getting loan approval, as a good credit score would allow the lender to have your FHA mortgage loan be approved. 

Take note that you will need a credit score of 580 to at least be eligible for a 3.5 % minimum down payment. It may seem too much to handle, but you definitely have nothing to worry about if you pay your debts on time.

Analyze the Closing Costs

The closing costs simply pertain to the overall total amount you will have to pay by the end of your mortgage. It also refers to the additional fees that you need to pay aside from the down payment. It may seem like an unnecessary add-on, but the closing cost would usually contain the attorney fees, the title insurance, the taxes, and even the appraisals. 

Be sure to ask about this when you approach a lender so you’ll have the option to pick and compare, much like how you were able to do it with your APR.


Finding the best FHA mortgage lender for you may not be an easy task, but knowing the right tips definitely gives you a higher chance of finding one where you can get approved and gain access to your dream home. You should start by sorting out your options, asking around for their APRs and closing costs, and discussing policies to ensure that you are not getting the short end of the deal.

If you are looking for a trusted lender providing FHA loans in Sacramento, look no further than Hawkins Home Loans. We are your online resource for a stress-free process, incredibly low rates, and amazing service! Contact us to learn more about our loans and services.