Find FHA Loan Specialists in Hartselle, AL
Browse fha loan specialists serving Hartselle, Alabama. Contact information and addresses listed below.
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State Mortgage Licensing Authority of Alabama before hiring.
Showing 6 fha loan specialists in Hartselle, AL
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FHA loan specialists in Hartselle, Alabama help buyers secure government-backed mortgages with lower down payments and flexible credit requirements. These loans are popular in Morgan County due to Alabama's first-time homebuyer programs and FHA guidelines that allow for down payments as low as 3.5 percent. Local specialists understand Hartselle's real estate market and can guide you through FHA appraisal and underwriting processes specific to Alabama.
What Does a FHA Loan Specialist in Hartselle Cost?
Typical costs for an FHA loan in Alabama include an upfront mortgage insurance premium of 1.75 percent of the loan amount, plus an annual MIP ranging from 0.45 percent to 1.05 percent of the loan balance. Closing costs in Hartselle usually range from 2 to 5 percent of the purchase price, covering appraisal, title search, and origination fees. Actual costs vary by lender, loan amount, and borrower qualifications. This is general information, 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 Hartselle, Alabama?
For 2025, FHA loan limits in Morgan County are set at $524,225 for a single-family home. This limit applies to standard FHA loans and may vary for high-cost areas. Check with a local specialist for the most current figures.
Do FHA loans in Alabama require mortgage insurance?
Yes, FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75 percent of the loan amount and an annual MIP that varies based on loan term and down payment. This insurance protects the lender and is required for the life of the loan if the down payment is less than 10 percent.
What credit score is needed for an FHA loan in Hartselle?
FHA loans generally require a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Alabama law does not impose additional credit requirements beyond FHA guidelines.