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Looking for a fha loan specialist in Urbana? Review the directory below to compare your options.
2 agents listed
Updated May 2026
Urbana, IL
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 Illinois before hiring.
Showing 2 fha loan specialists in Urbana, 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.
Busey Wealth Management
201 W Main St, Urbana, IL 61801
2173654800
Hard Money Lenders Urbana IL
1606 Willow View Rd, Urbana, IL 61802
2176516255
An FHA loan specialist in Urbana, Illinois, helps borrowers navigate Federal Housing Administration loans, which are popular for first-time homebuyers and those with lower credit scores. Illinois law requires all mortgage loan originators to be licensed through the Nationwide Multistate Licensing System (NMLS). Local specialists understand Champaign County property values and can guide you through the specific documentation needed for FHA approval in this area.
What Does a FHA Loan Specialist in Urbana Cost?
Typical costs for FHA loan specialist services in Illinois include an origination fee of 1 to 1.5 percent of the loan amount, plus third-party fees for appraisal, credit report, and title search. For a $200,000 home, total closing costs often range from $6,000 to $10,000. FHA also charges an upfront mortgage insurance premium of 1.75 percent of the loan amount, which can be financed into the loan. 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 does an FHA loan specialist do in Urbana?
An FHA loan specialist assists with loan pre-approval, document collection, and underwriting for FHA-insured mortgages. They help you understand down payment requirements, which can be as low as 3.5 percent, and ensure your property meets FHA appraisal standards in Champaign County.
What are the credit score requirements for an FHA loan 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 lenders may have additional overlays, so a specialist can review your specific situation.
How long does the FHA loan process take in Urbana?
The FHA loan process usually takes 30 to 45 days from application to closing in Illinois. Delays can occur if additional documentation is needed or if the property requires repairs to meet FHA standards. A local specialist can help streamline this timeline.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Illinois.