Find FHA Loan Specialists Near You in Peoria Heights, IL
Directory of fha loan specialists in Peoria Heights, Illinois. Verify credentials with the state state mortgage licensing authority before hiring.
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 Illinois before hiring.
Showing 4 fha loan specialists in Peoria Heights, 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.
What Does a FHA Loan Specialist in Peoria Heights Cost?
Typical costs for FHA loan specialist services in Illinois include an origination fee of 1% to 2% of the loan amount, plus third-party fees for appraisal (usually $400 to $700), credit report ($30 to $50), and title insurance ($500 to $1,200). The upfront MIP is 1.75% of the loan amount and can be financed into the loan. Closing costs generally range from 2% to 5% 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 FHA loan limits for Peoria Heights Illinois in 2025?
For 2025, the FHA loan limit for a single-family home in Peoria County is $498,257. This limit applies to Peoria Heights and is set by the U.S. Department of Housing and Urban Development (HUD). Higher limits may apply for multi-unit properties.
What credit score is needed for an FHA loan in Illinois?
FHA loans typically require a minimum credit score of 580 for a 3.5% down payment. Borrowers with scores between 500 and 579 may qualify with a 10% down payment. Each lender may have additional requirements beyond the FHA minimum.
Do FHA loans require private mortgage insurance in Illinois?
Yes, all FHA loans require an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount and an annual MIP that varies based on loan term and down payment. For most loans, the annual MIP is 0.55% of the loan balance.