That is correct. An FHA loan isn't a government loan but rather an insurance policy on a home loan paid by the government. This quick video explains it all. FHA loans are our specialty. If you are looking for FHA financing for a home purchase or a refinance contact us today. Using a lender without FHA experience will usually end up a mess and costing you money. We are Carlsbad FHA experts.
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A great clip, Nevin. Concise and to the point.
Just the other day I had this discussion with a Buyer, actually about VA. He was firmly convinced that the VA Loaned the money. Rather than argue, I referred him to a Lender who cleared up the misconception.
Perfect explanation, Nevin, from a movie star lender with loan sense to prove it.
Great post and utilization of video. Most consumers do confuse FHA & VA loans as government funded. FHA and VA is just one of many "insurance" policies our government offers.
The commentors above have it right, most buyers are very confused and misinformed about what loans are available and who is making the loan to them.
Good Morning Nevin
Thanks for the video post and excellent explanation of FHA loans. Have a great day.
Nevin - Great job of clarifying what an FHA loan is and what it is not.
Nevin, I affectionately think of you as the video loan guy. This is great informative presented in a clear and concise manner. There are so many misconceptions about FHA. Indeed, their guidelines are very strict. While a buyer may qualify for an FHA loan … many properties may not.
Nevin - Great video! This is probably the most misunderstood fact about FHA that I have to explain to prospects and clients. So many consumers are under the misconception that FHA is a lender and not just a mortgage insurer.
Hi Nevin:
Even though I have spoken to you on the phone, it's so nice to see you on video.
Perfect explanation on FHA.
Nevin, nice use of video to explain a popular mis-conception
Nice video presentation. Great, easy to understand . . .
Nevin: Thank you. Neither are USDA loans. You always educate us and I appreciate it! Take care.
same holds true to va loans right?
Nice video. Are you using the video often to communicate to clients, referral sources and prospects
THanks for sharing
Fred - I think a lot of people think the govt is lending the money. Hopefully you will send them this video! LOL
Glenn - Movie star? Then why am I selling money?! LOL Thanks Glenn : )
Thomas - correct!
Christopher - When I bought my first home with VA financing I also thought VA wa providing the loan! of course that was back in the late 80's when I worked as a UPS driver and didn't know anything about mortgages
Patrick - you bet! Thanks for stopping by
Norma - Thank you!
Kathleen - You said: "While a buyer may qualify for an FHA loan … many properties may not." Now that is another video!
Donne - And you my friend are one of the few that can explain it like a pro! Thanks for stopping by : )
Toula - Thanks!
Jon - Thanks
Carla - Thanks!
Paul - Yes sir! Any of the gov't loans are actually insurance
Tammy - Yes, any government loan is actually a government insured loan. Good to see you!
Edward - I meet with most of my referral sources in person but I always include any and all communication that is useful. too often I see people making 5 minute long videos and nobody I know has that much time! Quick and to the point and unless it truly requires more time, hopefully under one minute is my motto.
I like the video today/ thanks for getting this out to us today.
patricia/Seacoast NH / ME
Great video presentation!
Nevin... great and simple explanation... but wait... FHA loans could be a goverment loan in the future, just like Fannie & Freddit.. lol Seriously, to me, it wouldn't be a joking matter. I hope that never happens. Again, good topic on something that gets spun the wrong way so many times.
Good morning, Nevin. Excellent video presentation! Short, to the point, and informative. I’m not a loan guy, so I’m wondering how much FHA pays out on a foreclosure. Does FHA cover the difference between the loan amount and the amount the lender sold the foreclosed home for, or do they just write a check for the entire amount of the loan?
Nevin, thanks for clarifying this to not only consumers, but real estate agents as well. Love the video :)
Patricia - Thanks!
Maggie - Thank you
Jeff - The gov is trying to own everything
Bill - I am not sure. I believe it is a set %. I would have to dig into a 1,200 page selling guide to find out.
Yikes, Nevin! No need to do that! I was just mildly curious. (Of course, if you have nothing better to do than scour over a 1,200-page government document, I’m cool with it...) ;)
Bill - Not going to happen! LOL