Find FHA Loan Specialists Near You in Towson, MD
Directory of fha loan specialists in Towson, Maryland. Verify credentials with the state state mortgage licensing authority before hiring.
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State Mortgage Licensing Authority of Maryland before hiring.
Showing 9 fha loan specialists in Towson, MD
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An FHA loan specialist in Towson, Maryland helps homebuyers navigate Federal Housing Administration insured loans. These loans are popular in the Baltimore area due to lower down payment requirements and flexible credit guidelines. Maryland law requires all mortgage loan originators to be licensed through the Nationwide Multistate Licensing System (NMLS), and Towson specialists must comply with state disclosure rules under the Maryland Mortgage Lender Law.
What Does a FHA Loan Specialist in Towson Cost?
Typical costs for FHA loan specialist services in Maryland include an origination fee of 1% to 1.5% of the loan amount, plus third party fees for appraisal, credit report, and title search. In Towson, appraisal fees range from $500 to $700, and credit report fees are about $30 to $50. The upfront mortgage insurance premium (UFMIP) is 1.75% of the loan amount, and annual mortgage insurance premiums vary from 0.45% to 1.05% depending on loan terms. 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 Towson do?
An FHA loan specialist guides borrowers through the FHA loan process, including pre-approval, documentation, and closing. They help Towson residents understand FHA credit score minimums, debt-to-income ratios, and Maryland specific property requirements like lead paint disclosures for older homes.
What are the FHA loan limits for Towson Maryland in 2025?
For 2025, the FHA loan limit for a single-family home in Baltimore County, including Towson, is $498,257 for low-cost areas and up to $1,149,825 for high-cost areas. These limits are set by HUD and may change annually. A specialist can confirm the exact limit for your specific property.
Are there Maryland specific requirements for FHA loans?
Yes. Maryland requires FHA borrowers to complete a homebuyer education course from a HUD approved agency. Additionally, all FHA loans in Maryland must include a property appraisal by a state licensed appraiser, and the property must meet HUD minimum property standards, including safety and structural soundness.