FHA Loan Specialists in Newburgh, NY
Browse fha loan specialists serving Newburgh, New York. Contact information and addresses listed below.
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the
State Mortgage Licensing Authority of New York before hiring.
Showing 12 fha loan specialists in Newburgh, NY
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An FHA loan specialist in Newburgh, New York helps homebuyers navigate government-backed mortgages with lower down payments. New York State law requires all mortgage loan originators to be licensed through the Department of Financial Services. Specialists in Newburgh understand local property values in Orange County and can guide you through the FHA appraisal process.
What Does a FHA Loan Specialist in Newburgh Cost?
Typical costs for an FHA loan in New York include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual premium of 0.55 percent. Closing costs in Newburgh range from 2 to 5 percent of the purchase price, including lender fees and title insurance. New York also charges a mortgage recording tax which varies by county. 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 does an FHA loan specialist do in Newburgh?
An FHA loan specialist helps you apply for a Federal Housing Administration insured loan. They review your credit, income, and debt to determine eligibility. They also explain New York specific requirements like the mandatory mortgage recording tax.
What are the FHA loan limits for Newburgh New York?
For 2024, the FHA loan limit for a single family home in Orange County is $498,257. This limit is set by the Department of Housing and Urban Development and may change each year. A specialist can confirm the current limit for your specific property type.
How long does the FHA loan process take in New York?
The typical FHA loan process in New York takes 30 to 45 days from application to closing. New York law requires a 3 day right of rescission period after signing loan documents. Delays can occur if the property needs repairs required by the FHA appraisal.