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Showing 2 fha loan specialists in Bay City, TX
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Jason Childers, Chill Mortgage
1940 Avenue G #5, Bay City, TX 77414
9798246761
Gateway Mortgage
1112 7th St, Bay City, TX 77414
7139604475
What Does a FHA Loan Specialist in Bay City Cost?
Typical costs for an FHA loan specialist in Texas include an upfront mortgage insurance premium of 1.75 percent of the loan amount, plus annual mortgage insurance premiums ranging from 0.45 to 1.05 percent. Closing costs in Bay City often range from 2 to 5 percent of the purchase price, including appraisal fees around $500 to $700 and title insurance fees set by Texas law. Costs vary by situation. 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 credit score is needed for an FHA loan in Bay City Texas?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Texas law does not add extra credit requirements beyond FHA standards.
Are FHA loans available for homes in flood zones near Bay City?
Yes, FHA loans are available for homes in flood zones, but the property must have flood insurance as required by the National Flood Insurance Program. Bay City is near the Colorado River and Gulf Coast, so flood zone checks are common. The specialist will help verify flood zone status and insurance costs.