Frequently Asked Questions

7. How do I find a lender?

Answer: You can finance a home with a loan from a bank, a savings and loan, a credit union, a mortgage company, or various state government lenders. Shopping for a loan is like shopping for any other large purchase: you can save money if you take some time to look around for the best prices. Different lenders can offer quite different interest rates and loan fees; and as you know, the lower the interest rate, the more home you can afford.

Talk with several lenders before you decide. Your real estate broker will be familiar with lenders in the area and what they’re offering. Or look in your local newspaper’s real estate section - most papers list interest rates being offered by local lenders. You can find FHA-approved lenders in the Yellow Pages of your phone book.