An FHA loan specialist in Davis, California can help you navigate the specific requirements of FHA loans, which are insured by the Federal Housing Administration. In California, these loans often require a minimum down payment of 3.5 percent and must meet local property appraisal standards. Davis buyers may also benefit from California-specific programs like the CalHFA FHA loan, which offers additional down payment assistance for qualified borrowers.
What Does a FHA Loan Specialist in Davis Cost?
Typical costs for an FHA loan specialist in California include an origination fee of 0.5 to 1.0 percent of the loan amount, plus third-party fees for appraisal, credit report, and title services. For a $400,000 loan, total closing costs can range from $8,000 to $14,000. The upfront mortgage insurance premium is 1.75 percent of the loan amount, which can be financed into the loan. Note that costs vary by lender and property. 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.
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