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 Massachusetts before hiring.
Showing 5 fha loan specialists in Lawrence, MA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Natalie Malinowski at CrossCountry Mortgage
354 Merrimack St Suite 315, Lawrence, MA 01843
(351) 203-8434
ccm.com
The Sherry Burke Team
130 Parker St Suites 34 & 36, Lawrence, MA 01843
(617) 293-5098
leaderbank.com
What Does a FHA Loan Specialist in Lawrence 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. Closing costs in Lawrence range from 2 to 5 percent of the purchase price, including appraisal fees of 400 to 700 dollars and origination fees of 1 percent. Costs vary by lender, loan size, and borrower credit profile. 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 is an FHA loan and who qualifies in Lawrence Massachusetts?
An FHA loan is a government-backed mortgage with lower down payment requirements, typically 3.5 percent. To qualify in Lawrence, you need a minimum credit score of 580 and a valid Social Security number. The property must be your primary residence and meet FHA appraisal standards.
Are there Massachusetts-specific rules for FHA loans?
Yes, Massachusetts has a 90-day right to cure period for mortgage defaults before foreclosure can begin. FHA loans in Massachusetts also require a home inspection by a licensed Massachusetts home inspector. The state does not impose additional FHA loan limits beyond federal guidelines.
How do I choose an FHA loan specialist in Lawrence?
Look for a specialist licensed by the Massachusetts Division of Banks and experienced with FHA programs. Check their track record with local lenders and ask about their knowledge of Lawrence property values. You can verify a specialist license through the Nationwide Multistate Licensing System.