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Showing 7 fha loan specialists in Alabaster, AL
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What Does a FHA Loan Specialist in Alabaster Cost?
Typical costs for an FHA loan specialist in Alabama include an origination fee of 1 to 2 percent of the loan amount. Upfront mortgage insurance premium is 1.75 percent of the loan amount. Annual mortgage insurance premiums range from 0.45 to 1.05 percent of the loan balance. Closing costs in Alabama average 3 to 5 percent of the purchase price. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the FHA loan limits for Alabaster Alabama in 2025?
For 2025 the FHA loan limit for a single family home in Shelby County is $498,257. This limit applies to most areas in Alabama and is set by the Department of Housing and Urban Development.
What is the minimum down payment for an FHA loan in Alabama?
The minimum down payment for an FHA loan is 3.5 percent of the purchase price. This applies to borrowers with a credit score of 580 or higher. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment.