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Showing 2 fha loan specialists in Miller Place, NY
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
MLS Home Funding
692 NY-25A Suite B, Miller Place, NY 11764
6317447900
Echo Funding LLC
565 NY-25A Suite: #203, Miller Place, NY 11764
6316427570
What Does a FHA Loan Specialist in Miller Place Cost?
Typical costs for an FHA loan specialist in New York include an origination fee of 1 to 2 percent of the loan amount. Closing costs for an FHA loan in Suffolk County often range from 3 to 6 percent of the purchase price. The upfront mortgage insurance premium is 1.75 percent of the loan amount. Annual mortgage insurance premiums vary from 0.55 to 0.85 percent. 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 FHA loan limits for Miller Place New York?
For 2024, the FHA loan limit for a single-family home in Suffolk County, including Miller Place, is $1,149,825. This high limit reflects the area median home prices. Limits are set annually by the Department of Housing and Urban Development.
Do I need a special license to be an FHA loan specialist in New York?
Yes. All mortgage loan originators in New York must hold a valid license from the New York State Department of Financial Services under Article 12-D of the Banking Law. They must also complete continuing education each year.
What is the minimum down payment for an FHA loan in New York?
The standard FHA loan requires a minimum down payment of 3.5 percent of the purchase price. This applies in Miller Place and throughout New York. Borrowers must also have a credit score of at least 580.