FHA Loan Specialists in Waite Park, MN
Compare fha loan specialists in Waite Park. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Minnesota before hiring.
Showing 8 fha loan specialists in Waite Park, MN
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What Does a FHA Loan Specialist in Waite Park Cost?
Typical costs for FHA loan services in Minnesota include an upfront mortgage insurance premium of 1.75% of the loan amount and annual mortgage insurance premiums of 0.45% to 1.05%. Lender origination fees range from 0.5% to 1.5% of the loan amount. Third party costs such as appraisal fees in Waite Park average $400 to $700 and title services cost $800 to $1,500. These costs vary by lender, property, and borrower qualifications. 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 minimum credit score requirements for an FHA loan in Waite Park?
FHA loans generally require a minimum credit score of 580 for a 3.5% down payment. Borrowers with scores between 500 and 579 may qualify with a 10% down payment. Minnesota law does not impose additional credit score requirements beyond federal FHA guidelines.
Are there down payment assistance programs available in Waite Park for FHA loans?
Yes, Minnesota Housing offers down payment assistance programs that can be used with FHA loans. Eligible borrowers in Waite Park may receive up to $15,000 in deferred loans or grants. These programs have income limits and require completion of a home buyer education course.