Compare FHA Loan Specialists in Phillipsburg, NJ
Compare fha loan specialists in Phillipsburg. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of New Jersey before hiring.
Showing 8 fha loan specialists in Phillipsburg, NJ
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An FHA loan specialist in Phillipsburg, New Jersey helps home buyers and homeowners with FHA insured mortgages. New Jersey has specific rules for FHA loans, including maximum loan limits that vary by county. Warren County limits for 2024 are set by the Federal Housing Administration and may affect your borrowing options.
What Does a FHA Loan Specialist in Phillipsburg Cost?
Typical costs for FHA loan services in New Jersey include an upfront mortgage insurance premium of 1.75 percent of the loan amount and annual mortgage insurance premiums ranging from 0.45 to 1.05 percent. Lender fees vary but often range from 500 to 1,500 dollars. Appraisal fees in Phillipsburg are usually 400 to 700 dollars. 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 credit score is needed for an FHA loan in Phillipsburg?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. Some lenders may accept scores as low as 500 with a 10 percent down payment. New Jersey does not have state specific credit score rules beyond federal FHA guidelines.
What are the FHA loan limits for Warren County New Jersey?
For 2024, the FHA loan limit for a single family home in Warren County is 498,257 dollars. This limit applies to most areas in Phillipsburg. Higher limits may apply for multi unit properties.
Do FHA loans require mortgage insurance in New Jersey?
Yes, all FHA loans require both an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual premium that varies by loan term and down payment. This insurance is required for the life of the loan if the down payment is less than 10 percent.