- 1). Start by finding an FHA approved lender in your area. Most banks and credit unions can approve FHA loans. Discuss the terms of the loan with a loan officer at the bank before deciding on a bank. Shop around to find competitive rates. You can also search rates online.
- 2). Pick your lender and begin the paperwork. Once you have decided on a lender, you will have to go through multiple steps for approval. This often takes several days. The bank will have to run your credit report and will likely need a pay stub to verify your income.
- 3). Buy the house and complete the paperwork at a closing. When you purchase the house, you will have to go to a meeting with a bank representative, real estate representative, and title company representative. These people will help you complete the needed paperwork to transfer the title of the house to your lender and disperse the loan to the real estate agent.
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