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Showing 2 fha loan specialists in Raynham, MA
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What Does a FHA Loan Specialist in Raynham Cost?
Typical costs for FHA loan services in Massachusetts include an upfront mortgage insurance premium of 1.75 percent of the loan amount and annual MIP ranging from 0.15 to 0.75 percent. Lender origination fees usually range from 1 to 2 percent of the loan amount. Appraisal fees in the Raynham area average $500 to $700. Closing costs generally total 3 to 5 percent of the purchase price. 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 Raynham Massachusetts?
For 2025, the FHA loan limit for a single-family home in Bristol County, including Raynham, is $524,225. This amount is set by HUD and may change annually. Higher limits apply for multi-unit properties.
Do I need a special license to be an FHA loan specialist in Massachusetts?
Yes, mortgage loan originators in Massachusetts must be licensed through the Division of Banks under the Secure and Fair Enforcement for Mortgage Licensing Act. Specialists must also complete continuing education on FHA guidelines.
What is the minimum down payment for an FHA loan in Massachusetts?
The minimum down payment is 3.5 percent of the purchase price if your credit score is 580 or higher. If your score is between 500 and 579, a 10 percent down payment is required. These rules apply statewide including Raynham.