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Showing 3 fha loan specialists in Mt Zion, IL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Prairie State Bank & Trust
340 W Main St, Mt Zion, IL 62549
2178642353
Mc Atee Financial Center
1 Ashland Ave, Mt Zion, IL 62549
2178649100
Edward Jones - Financial Advisor: Travis Roach, CFP®
505 Broadway St Ste D, Mt Zion, IL 62549
2178643388
What Does a FHA Loan Specialist in Mt Zion Cost?
Typical costs for an FHA loan in Illinois include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual premium of 0.55 to 0.85 percent. Closing costs in Mt Zion generally range from 2 to 5 percent of the loan value. Lender fees vary but often include an origination fee of 1 percent. 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 does an FHA loan specialist in Mt Zion do?
An FHA loan specialist helps borrowers apply for loans insured by the Federal Housing Administration. They review your financial situation, explain FHA requirements, and assist with paperwork. In Illinois, they must be licensed under the Illinois Department of Financial and Professional Regulation.
What are the minimum FHA loan requirements in Illinois?
FHA loans typically 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. Illinois law does not add extra requirements beyond federal FHA guidelines.
How long does it take to get an FHA loan in Mt Zion?
The FHA loan process usually takes 30 to 45 days from application to closing. Delays can occur if additional documentation is needed. Illinois law requires lenders to provide a Loan Estimate within three business days of application.