Find FHA Loan Specialists in Chelsea, MI
Browse fha loan specialists serving Chelsea, Michigan. 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 Michigan before hiring.
Showing 7 fha loan specialists in Chelsea, MI
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
What Does a FHA Loan Specialist in Chelsea Cost?
Typical costs for an FHA loan specialist in Chelsea Michigan include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual premium of 0.45 to 1.05 percent. Closing costs generally range from 2 to 5 percent of the purchase price. Lender fees and third-party costs such as appraisal and title insurance vary by case. 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 credit score do I need for an FHA loan in Chelsea Michigan?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Michigan lenders may have additional overlays beyond FHA minimums.
Are there Michigan-specific rules for FHA loans?
Michigan law does not impose extra state regulations on FHA loans beyond federal guidelines. However all mortgage loan originators must be registered with the Michigan Department of Insurance and Financial Services. Local property taxes in Chelsea also affect your debt-to-income ratio calculations.