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Showing 3 fha loan specialists in Tuscumbia, AL
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Edward Jones - Financial Advisor: Scott B Cooper, CEPA®|AAMS®
308 N Main St, Tuscumbia, AL 35674
(256) 383-0838
edwardjones.com
What Does a FHA Loan Specialist in Tuscumbia Cost?
Typical costs for an FHA loan specialist in Alabama include an origination fee of 1% to 1.5% of the loan amount. Appraisal fees range from $500 to $700. Closing costs in Alabama average 3% to 5% of the purchase price. These costs vary by lender and loan size. 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 Tuscumbia Alabama?
FHA loan limits for Tuscumbia follow the standard limits for Colbert County. For 2024 the single family home limit is typically around $498,257. A specialist can confirm the exact limit for your specific loan type.
Do I need a special license to be an FHA loan specialist in Alabama?
In Alabama FHA loan specialists must hold a valid mortgage loan originator license through the Alabama State Banking Department. They must also complete FHA specific training and meet federal requirements under the SAFE Act.
What Alabama specific rules apply to FHA loans in Tuscumbia?
Alabama law requires FHA loans to follow state property transfer and title rules. Specialists also help with Alabama specific flood zone requirements and local tax proration rules that differ from other states.