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Showing 3 fha loan specialists in Shoreview, MN
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
LendSmart Mortgage powered by American Pacific Mortgage #1850
Provost Office, 3570 Lexington Ave N #140, Shoreview, MN 55126
6516314919
Dan Murray Lendsmart Mortgage
3450 Lexington Ave N #220, Shoreview, MN 55126
6513298845
Dan Niemeyer Lendsmart Mortgage LLC
3450 Lexington Ave N #220, Shoreview, MN 55126
6125788080
What Does a FHA Loan Specialist in Shoreview Cost?
Typical costs for an FHA loan specialist in Minnesota include an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount and an annual mortgage insurance premium (MIP) of 0.55% to 0.85% depending on loan terms. Closing costs in Shoreview generally range from 2% to 5% of the purchase price. These costs vary by lender and borrower circumstances. 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 Shoreview do?
An FHA loan specialist helps borrowers qualify for FHA-insured mortgages. They review credit scores, verify income, and ensure the property meets FHA standards. In Minnesota, they also help with state-specific requirements like the Minnesota Housing Finance Agency programs.
What are the FHA loan limits for Shoreview Minnesota?
For 2024, the FHA loan limit for a single-family home in Ramsey County, which includes Shoreview, is $498,257. This limit applies to most standard FHA loans. Higher limits may apply for duplexes or larger properties.
How long does an FHA loan process take in Minnesota?
The typical FHA loan process in Minnesota takes 30 to 45 days from application to closing. This timeline includes appraisal, underwriting, and final approval. Delays can occur if additional documentation is needed or if the property requires repairs.