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Showing 2 fha loan specialists in Amherst, MA
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Danielle Berthiaume - Mortgage Loan Officer
243 Triangle St, Amherst, MA 01002
(413) 539-4867
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What Does a FHA Loan Specialist in Amherst Cost?
Typical costs for an FHA loan specialist in Massachusetts 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. Origination fees range from 0.5 to 1.0 percent of the loan value. For a $300,000 home in Amherst total closing costs often fall between $8,000 and $12,000. 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 is an FHA loan specialist in Amherst?
An FHA loan specialist is a licensed mortgage professional who helps borrowers apply for FHA insured loans. In Amherst they assist with low down payment options and explain Massachusetts specific rules like the state housing counseling requirement.
What are the down payment requirements for an FHA loan in Massachusetts?
FHA loans typically require a 3.5 percent down payment. Massachusetts does not have a state specific down payment rule but local lenders may offer additional assistance programs for Amherst buyers.
How do I choose an FHA loan specialist in Amherst?
Look for a specialist licensed in Massachusetts with experience in Amherst real estate. Check their background through the Nationwide Mortgage Licensing System and ask about their knowledge of local property types like condos and single family homes.