An FHA loan specialist in Huntley, Illinois helps home buyers navigate Federal Housing Administration loans, which are popular for their low down payment options. Illinois law requires all mortgage loan originators to be licensed through the Illinois Department of Financial and Professional Regulation. Huntley is located in McHenry and Kane counties, where FHA loan limits for 2024 are set at $498,257 for a single-family home.
What Does a FHA Loan Specialist in Huntley Cost?
Typical costs for an FHA loan in Illinois include an upfront mortgage insurance premium of 1.75% of the loan amount, and an annual premium of 0.55% to 0.85% depending on loan term and down payment. Closing costs in Huntley usually range from 2% to 5% of the purchase price. Lender fees vary but often fall between $1,000 and $3,000. 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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