Find FHA Loan Specialists Near You in Farmington, AR
Compare fha loan specialists in Farmington. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Arkansas before hiring.
Showing 2 fha loan specialists in Farmington, AR
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FHA loan specialists in Farmington, Arkansas help homebuyers secure government-backed mortgages with lower down payments. These loans are popular in Northwest Arkansas due to the regions growing housing market. Arkansas law requires FHA lenders to follow state-specific disclosure rules for closing costs and interest rates.
What Does a FHA Loan Specialist in Farmington Cost?
Typical costs for an FHA loan specialist in Arkansas include an origination fee of 1 percent of the loan amount and an upfront mortgage insurance premium of 1.75 percent. Closing costs in Farmington generally range from 2 to 5 percent of the purchase price. Appraisal fees for FHA loans in Arkansas are usually between $400 and $700. 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 Farmington do?
An FHA loan specialist guides you through the FHA loan process including pre-approval, documentation, and closing. They ensure the property meets FHA minimum property standards. In Arkansas, specialists must be licensed by the Arkansas Securities Department.
What are the credit score requirements for an FHA loan in Arkansas?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. Scores between 500 and 579 may qualify with a 10 percent down payment. Arkansas lenders may have overlays requiring higher scores.
Are there FHA loan limits for Farmington Arkansas?
Yes, FHA loan limits vary by county. For Washington County which includes Farmington, the 2025 limit for a single-family home is typically around $498,257. Limits adjust annually based on median home prices.