Compare FHA Loan Specialists in Decatur, AL
Browse fha loan specialists serving Decatur, Alabama. Contact information and addresses listed below.
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 18 fha loan specialists in Decatur, 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 Decatur Cost?
The cost of working with an FHA loan specialist in Decatur Alabama varies. Typical fees include an origination fee of 0.5% to 1% of the loan amount and third party costs for appraisal and credit report. The upfront mortgage insurance premium is 1.75% of the loan amount, and annual mortgage insurance premiums range from 0.45% to 1.05% depending on loan terms. Alabama specific costs include a state mortgage tax of $0.15 per $100 borrowed and recording fees of about $30 to $50. 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 does an FHA loan specialist in Decatur do?
An FHA loan specialist guides you through the FHA loan process including pre approval, documentation, and closing. They help you meet FHA requirements such as the 3.5% minimum down payment and the 580 minimum credit score. They also explain Alabama specific rules like the state mortgage tax and recording fees.
Are there income limits for FHA loans in Decatur Alabama?
FHA loans do not have a maximum income limit, but they do have loan limits that vary by county. In Morgan County Alabama the 2024 FHA loan limit for a single family home is $498,257. Your debt to income ratio must generally be below 43% to qualify.