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Showing 7 fha loan specialists in El Reno, OK
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Great Plains Home Lending El Reno - The Childers Team
106 N Rock Island Ave, El Reno, OK 73036
(405) 445-5450
childershomeloans.com
What Does a FHA Loan Specialist in El Reno Cost?
Typical costs for FHA loan specialist services in Oklahoma include an origination fee of 1% to 2% of the loan amount, plus third-party fees for appraisal and credit report. Appraisal fees in El Reno range from $500 to $700. Closing costs usually total 3% to 5% of the loan amount. Costs vary by case. 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 FHA loan limits for El Reno Oklahoma in 2025?
For 2025, the FHA loan limit for a single-family home in Canadian County is $498,257 for low-cost areas and up to $1,149,825 for high-cost areas. El Reno falls under the standard limit for Oklahoma. A specialist can confirm the exact limit for your property.
Do I need an Oklahoma specific license to be an FHA loan specialist?
Yes, FHA loan specialists in Oklahoma must hold a valid mortgage loan originator license through the Nationwide Multistate Licensing System. They must also complete Oklahoma specific education and pass a state background check.
What is the minimum down payment for an FHA loan in El Reno?
The minimum down payment for an FHA loan is 3.5% of the purchase price if your credit score is 580 or higher. If your credit score is between 500 and 579, you may need a 10% down payment. These requirements apply statewide in Oklahoma.