FHA loan specialists in Stillwater, Minnesota help homebuyers navigate FHA-insured mortgages, which require a minimum down payment of 3.5 percent and a credit score of 580 or higher. Minnesota law requires all mortgage loan originators to be licensed through the Minnesota Department of Commerce. Specialists can guide Stillwater residents through the local housing market and FHA loan limits for Washington County.
What Does a FHA Loan Specialist in Stillwater Cost?
Typical costs for an FHA loan specialist in Minnesota include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual mortgage insurance premium of 0.55 to 0.85 percent. Origination fees range from 0.5 to 1.0 percent of the loan amount. Closing costs in Stillwater average 2 to 5 percent of the purchase price. 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.
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