Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the State Mortgage Licensing Authority of Alabama before hiring.
Showing 2 fha loan specialists in Chelsea, AL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
What Does a FHA Loan Specialist in Chelsea Cost?
Typical costs for FHA loan services in Alabama include an upfront mortgage insurance premium of 1.75 percent of the loan amount and annual MIP of 0.45 to 1.05 percent. Closing costs in Chelsea range from 2 to 5 percent of the purchase price. Appraisal fees are usually 400 to 700 dollars. 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 credit score do I need for an FHA loan in Chelsea Alabama?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. Some lenders may accept scores as low as 500 with a 10 percent down payment. Your specialist can review your specific situation.
Are FHA loans available for manufactured homes in Chelsea?
Yes FHA loans can be used for manufactured homes in Chelsea Alabama. The home must meet HUD standards and be permanently affixed to a foundation. Your specialist will help ensure the property qualifies.
How long does the FHA loan process take in Alabama?
The FHA loan process in Alabama usually takes 30 to 45 days from application to closing. Delays can occur if the property needs repairs or if appraisal issues arise. Your specialist will keep you updated throughout.