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Showing 2 fha loan specialists in Jamesburg, NJ
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Petra Cephas: Residential Mortgage Brokers
315 Forsgate Dr, Jamesburg, NJ 08831
7328731365
Star Mortgage & Finance LLC - NMLS #755791
241 Forsgate Dr Suite 205, Jamesburg, NJ 08831
7327500780
What Does a FHA Loan Specialist in Jamesburg Cost?
Typical costs for an FHA loan specialist in New Jersey include an origination fee of 1 percent to 1.5 percent of the loan amount, plus third-party fees for appraisal, credit report, and title search. Total closing costs often range from 3 percent to 5 percent of the purchase price. New Jersey also charges a mortgage recording tax of 0.23 percent to 0.5 percent. 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 are the credit score requirements for an FHA loan in Jamesburg?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. New Jersey lenders may have additional overlays beyond FHA minimums.
How long does the FHA loan process take in New Jersey?
The FHA loan process in New Jersey usually takes 30 to 45 days from application to closing. This timeline includes appraisal, underwriting, and compliance with New Jersey property disclosure laws. Delays can occur if additional documentation is needed.
Are there New Jersey-specific FHA loan limits for Jamesburg?
Yes, FHA loan limits vary by county. For Middlesex County, which includes Jamesburg, the 2024 FHA loan limit for a single-family home is typically around $498,257. Higher limits apply for multi-unit properties. These limits are set annually by the Department of Housing and Urban Development.