FHA Loan Specialists in Columbus, MS
Compare fha loan specialists in Columbus. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Mississippi before hiring.
Showing 14 fha loan specialists in Columbus, MS
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FHA loan specialists in Columbus, Mississippi help borrowers secure government-backed mortgages with low down payments. Mississippi law requires all mortgage loan originators to be licensed through the Nationwide Multistate Licensing System. Local specialists understand the unique housing market in Lowndes County and can guide you through FHA property requirements.
What Does a FHA Loan Specialist in Columbus Cost?
Typical costs for an FHA loan in Mississippi include an upfront mortgage insurance premium of 1.75 percent of the loan amount, which can be rolled into the loan. Annual mortgage insurance premiums range from 0.45 to 1.05 percent of the loan balance. Closing costs in Columbus generally fall between 2 and 5 percent of the purchase price. Lender fees may vary. This information is for general educational purposes and is 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 FHA loan limits for Columbus Mississippi?
For 2024, the FHA loan limit for a single-family home in Lowndes County is $498,257. This limit applies to most areas in Mississippi and may be higher for duplexes or triplexes. Your specialist can confirm the exact amount for your situation.
Do I need a specific down payment for an FHA loan in Mississippi?
FHA loans require a minimum down payment of 3.5 percent if your credit score is 580 or higher. If your score is between 500 and 579, you may need a 10 percent down payment. Mississippi does not have state-specific down payment assistance programs, but local lenders may offer options.
What property conditions are required for an FHA loan in Columbus?
FHA loans require an appraisal by an FHA-approved appraiser to ensure the property meets minimum standards. In Mississippi, this includes checking for termite damage, roof condition, and safe electrical systems. The home must be your primary residence.