Find FHA Loan Specialists Near You in Lexington, MA
Browse fha loan specialists serving Lexington, Massachusetts. Contact information and addresses listed below.
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 10 fha loan specialists in Lexington, 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.
An FHA loan specialist in Lexington Massachusetts can help homebuyers navigate FHA insured mortgages which require a lower down payment. Massachusetts law requires all mortgage loan originators to be licensed through the Division of Banks. Local specialists understand the Lexington housing market and can guide you through the FHA appraisal and underwriting process.
What Does a FHA Loan Specialist in Lexington Cost?
Typical costs for an FHA loan in Massachusetts include an upfront mortgage insurance premium (MIP) of 1.75 percent of the loan amount and an annual MIP of 0.55 percent to 0.85 percent. Closing costs usually range from 3 percent to 5 percent of the purchase price. Lender fees can vary from 500 to 1500 dollars. 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 Lexington Massachusetts?
For 2024 the FHA loan limit for a single family home in Middlesex County which includes Lexington is $1,149,825. This high limit reflects the areas elevated home prices and allows buyers to use FHA financing for more expensive properties.
What documents do I need for an FHA loan in Massachusetts?
You need recent pay stubs, W-2 forms from the past two years, federal tax returns, bank statements, and proof of any other assets. Massachusetts also requires a valid government issued photo ID and your Social Security card for the application process.
How long does an FHA loan closing take in Lexington?
A typical FHA loan closing in Massachusetts takes 30 to 45 days from application to closing. Delays can occur if the FHA appraisal requires repairs or if additional documentation is needed from the borrower.