Compare FHA Loan Specialists in El Cajon, CA
Looking for a fha loan specialist in El Cajon? Review the directory below to compare your options.
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 California before hiring.
Showing 7 fha loan specialists in El Cajon, CA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
What Does a FHA Loan Specialist in El Cajon Cost?
Typical costs for FHA loan specialist services in California include an origination fee of up to 1 percent of the loan amount and third-party fees for appraisal, credit report, and title services. These fees often total between $3,000 and $6,000 for a standard purchase. The upfront mortgage insurance premium is 1.75 percent of the loan amount, and closing costs generally range from 2 to 5 percent of the purchase price. 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 minimum credit score requirements for an FHA loan in El Cajon?
The standard minimum credit score for an FHA loan is 580 to qualify for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may still qualify but must put down at least 10 percent. Individual lenders in El Cajon may set higher requirements.
What is the maximum loan limit for FHA loans in El Cajon California?
For 2024, the FHA loan limit for a single-family home in San Diego County, which includes El Cajon, is $1,149,825 for high-cost areas. This limit is adjusted annually by the Department of Housing and Urban Development (HUD).
Do FHA loans require mortgage insurance in California?
Yes, FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75 percent of the loan amount and an annual MIP paid monthly. The annual MIP rate varies based on loan term and loan-to-value ratio, typically ranging from 0.15 percent to 0.75 percent.