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Showing 2 fha loan specialists in Saline, MI
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Affordable Mortgage Partners
1209 Industrial Dr, Saline, MI 48176
9043829746
Affordable Mortgage Partners
7461 Steeplechase Dr, Saline, MI 48176
9043829746
What Does a FHA Loan Specialist in Saline Cost?
Typical costs for an FHA loan specialist in Michigan include an origination fee of 1 percent of the loan amount and third party fees for appraisal and credit report. Appraisal fees in Saline range from $500 to $700. Mortgage insurance premiums are 1.75 percent upfront and 0.55 percent annually. Costs vary by situation. 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 does an FHA loan specialist in Saline do?
An FHA loan specialist guides you through the FHA loan process from application to closing. They help you understand down payment requirements, mortgage insurance premiums, and property eligibility. In Michigan, they also ensure compliance with state specific lending rules.
What are the FHA loan limits for Saline Michigan?
FHA loan limits for Saline Michigan are set by the Department of Housing and Urban Development. For 2024 the single family home limit in Washtenaw County is typically around $498,257. These limits change annually based on local median home prices.
Do FHA loans require a down payment in Michigan?
Yes FHA loans require a minimum down payment of 3.5 percent for borrowers with a credit score of 580 or higher. If your credit score is between 500 and 579 you may need a 10 percent down payment. Michigan law does not change these federal requirements.