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 Massachusetts before hiring.
Showing 3 fha loan specialists in Lynn, 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.
PrimeLending, A PlainsCapital Company - East Boston
614 Washington St Suite 401A, Lynn, MA 01901
6175618100
Scarlett Hernandez - Total Mortgage, NMLS #1481186
161 Liberty St, Lynn, MA 01901
9783874096
Motto Mortgage 360
471 Lynnfield St Suite 1, Lynn, MA 01904
9785608600
What Does a FHA Loan Specialist in Lynn Cost?
Typical costs for an FHA loan in Massachusetts include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual premium of 0.55 percent to 0.85 percent depending on the loan term and amount. Closing costs generally range from 2 to 5 percent of the purchase price. Lender fees and appraisal costs vary by provider. 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 and how does it work in Lynn Massachusetts?
An FHA loan is a mortgage insured by the Federal Housing Administration. In Lynn Massachusetts it allows a down payment as low as 3.5 percent for borrowers with a credit score of 580 or higher. The loan must be used for a primary residence and meets specific property condition standards.
What are the income and credit requirements for an FHA loan in Massachusetts?
FHA loans in Massachusetts require a minimum credit score of 500 with a 10 percent down payment or 580 for a 3.5 percent down payment. Borrowers must have a debt to income ratio usually below 43 percent. Income must be documented and stable for at least two years.
Are there Massachusetts specific rules for FHA loan limits?
Yes FHA loan limits vary by county in Massachusetts. For Essex County which includes Lynn the 2025 limit for a one unit property is typically around 524225 dollars for a standard loan. Higher limits apply in high cost areas like Boston.