Find FHA Loan Specialists Near You in Gainesville, GA
Compare fha loan specialists in Gainesville. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Georgia before hiring.
Showing 16 fha loan specialists in Gainesville, GA
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FHA loan specialists in Gainesville, Georgia help homebuyers secure loans insured by the Federal Housing Administration. These loans often require lower down payments and credit scores than conventional loans. Georgia law requires all mortgage loan originators to be licensed through the Georgia Department of Banking and Finance.
What Does a FHA Loan Specialist in Gainesville Cost?
Typical costs for an FHA loan specialist in Georgia include an origination fee of 1 to 2 percent of the loan amount, plus an upfront mortgage insurance premium of 1.75 percent of the loan. Annual mortgage insurance premiums range from 0.45 to 1.05 percent of the loan balance. Closing costs in Gainesville average 3 to 5 percent of the purchase price. 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 credit score do I need for an FHA loan in Gainesville?
Most FHA loans require a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Each lender may set its own requirements above the FHA minimum.
How long does an FHA loan approval take in Georgia?
FHA loan approval in Georgia typically takes 30 to 45 days from application to closing. Delays can occur if additional documentation is needed. Georgia law requires a three-day right of rescission for most refinances.
Are there income limits for FHA loans in Gainesville?
FHA loans do not have income limits, but borrowers must show stable employment and sufficient income to cover the mortgage payment. The loan amount is capped by FHA county loan limits, which for Hall County in 2024 are up to 498,257 for a single-family home.