An FHA loan specialist in Calumet City Illinois helps home buyers and homeowners navigate FHA insured mortgages. These loans are popular in the south suburbs due to lower down payment requirements. Illinois law requires all mortgage loan originators to be licensed through the Illinois Department of Financial and Professional Regulation.
What Does a FHA Loan Specialist in Calumet City Cost?
Typical costs for an FHA loan specialist in Illinois include an origination fee of 1 percent of the loan amount. Closing costs usually range from 3 to 5 percent of the purchase price. For a $200,000 home that means $6,000 to $10,000 in total closing costs. The upfront mortgage insurance premium is 1.75 percent of the loan amount. 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.
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