Find FHA Loan Specialists Near You in Leeds, AL
Browse fha loan specialists serving Leeds, 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 4 fha loan specialists in Leeds, AL
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An FHA loan specialist in Leeds Alabama helps home buyers secure government backed mortgages with lower down payments. Alabama law requires all mortgage loan originators to be licensed through the Alabama State Banking Department. Local specialists understand the Birmingham metro area housing market and can guide you through FHA appraisal rules for homes in Leeds.
What Does a FHA Loan Specialist in Leeds Cost?
Typical costs for an FHA loan specialist in Alabama include an origination fee of 1 percent of the loan amount and an upfront mortgage insurance premium of 1.75 percent. Annual mortgage insurance premiums range from 0.45 to 1.05 percent of the loan balance. Closing costs in Leeds Alabama average 3 to 5 percent of the purchase price. 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 Leeds Alabama?
For 2024 the FHA loan limit for a single family home in Jefferson County where Leeds is located is $498,257. This limit applies to standard FHA loans and may be higher for duplexes or triplexes.
Do I need a specific credit score for an FHA loan in Alabama?
FHA loans generally require a minimum credit score of 580 for a 3.5 percent down payment. Scores between 500 and 579 may still qualify but require a 10 percent down payment. Alabama lenders may have their own overlay requirements.
What Alabama specific rules apply to FHA loans?
Alabama requires all FHA loans to include a home inspection and flood insurance if the property is in a flood zone. The state also has specific escrow requirements for property taxes and homeowners insurance.