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Showing 5 fha loan specialists in Clute, TX
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Texas Car Title and Payday Loan Services, Inc.
634 Dixie Dr, Clute, TX 77531
(979) 299-3086
texascartitleandpaydayloanservicesinc.com
What Does a FHA Loan Specialist in Clute Cost?
Typical costs for an FHA loan in Clute, Texas include an upfront mortgage insurance premium of 1.75 percent of the loan amount, plus an annual premium of 0.55 to 0.85 percent. Closing costs usually range from 2 to 5 percent of the purchase price, covering lender fees, title insurance, and appraisal. Texas law limits certain fees on FHA loans, such as the origination fee to 1 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 credit score do I need for an FHA loan in Clute Texas?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. If your score is between 500 and 579, you may still qualify with a 10 percent down payment. Each lender in Clute may have its own overlays on top of FHA minimums.
Are there specific property requirements for FHA loans in Clute?
Yes, FHA loans require an appraisal by an FHA-approved appraiser to ensure the property meets minimum health and safety standards. In Clute, homes must also pass a termite inspection due to Texas climate conditions. The property must be your primary residence.
How long does it take to close an FHA loan in Clute Texas?
A typical FHA loan closing in Clute takes 30 to 45 days from application to funding. Texas law requires a three-day right of rescission after signing the loan documents. Delays can occur if additional documentation is needed or if the appraisal reveals issues.