Compare FHA Loan Specialists in Powell, OH
Directory of fha loan specialists in Powell, Ohio. Verify credentials with the state state mortgage licensing authority before hiring.
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 Ohio before hiring.
Showing 5 fha loan specialists in Powell, OH
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An FHA loan specialist in Powell Ohio can help you navigate the Federal Housing Administration loan process. These loans are popular for first-time homebuyers and those with lower credit scores. Ohio law requires all mortgage loan originators to be licensed through the Ohio Division of Financial Institutions.
What Does a FHA Loan Specialist in Powell Cost?
Typical costs for an FHA loan in Ohio include an upfront mortgage insurance premium (UFMIP) of 1.75 percent of the loan amount and an annual mortgage insurance premium (MIP) of 0.55 to 1.05 percent. Closing costs in Powell Ohio generally range from 2 to 5 percent of the purchase price. These costs vary based on loan size, credit score, and lender fees. 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 is an FHA loan and how does it work in Powell Ohio?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. In Powell Ohio, these loans require a minimum down payment of 3.5 percent and a credit score of at least 580. The loan must be for a primary residence and meet FHA property standards.
What are the property requirements for an FHA loan in Ohio?
The property must be appraised by an FHA-approved appraiser and meet minimum health and safety standards. Ohio law does not add extra requirements beyond federal FHA rules. The home must be your primary residence and cannot be an investment property.
How long does the FHA loan process take in Powell Ohio?
The typical FHA loan process in Ohio takes 30 to 45 days from application to closing. This timeline includes appraisal, underwriting, and final approval. Delays can occur if the property needs repairs to meet FHA standards.