FHA Loan Specialists in Desert Hot Springs, CA
Compare fha loan specialists in Desert Hot Springs. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of California before hiring.
Showing 4 fha loan specialists in Desert Hot Springs, CA
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An FHA loan specialist in Desert Hot Springs California can help you navigate the Federal Housing Administration loan process. These loans are popular in the Coachella Valley due to lower down payment requirements and flexible credit guidelines. California law requires all mortgage loan originators to be licensed through the Nationwide Multistate Licensing System.
What Does a FHA Loan Specialist in Desert Hot Springs Cost?
Typical costs for an FHA loan in California include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual premium of 0.45 to 1.05 percent depending on loan term and down payment. Closing costs usually range from 2 to 5 percent of the purchase price. These costs vary by lender loan size and property location. 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 are the FHA loan limits for Desert Hot Springs California?
FHA loan limits for Riverside County including Desert Hot Springs are set annually by HUD. For 2024 the single family home limit is approximately $530,150. A specialist can confirm the exact current limit for your property type.
Do I need a specific credit score for an FHA loan in California?
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. California lenders may have their own overlay requirements so check with a specialist.
What documents do I need for an FHA loan application in Desert Hot Springs?
You will need pay stubs from the last 30 days W-2 forms from the last two years federal tax returns bank statements and a valid government ID. Self employed borrowers may need additional profit and loss statements.