Find FHA Loan Specialists in Lake Jackson, TX
Compare fha loan specialists in Lake Jackson. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Texas before hiring.
Showing 20 fha loan specialists in Lake Jackson, TX
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An FHA loan specialist in Lake Jackson, Texas helps homebuyers navigate FHA-insured mortgages. These loans are popular in Brazoria County due to lower down payment requirements. Texas law requires all mortgage loan originators to be licensed through the Texas Department of Savings and Mortgage Lending.
What Does a FHA Loan Specialist in Lake Jackson Cost?
Typical costs for an FHA loan specialist in Texas include an origination fee of 1% to 1.5% of the loan amount. Upfront mortgage insurance premium (UFMIP) is 1.75% of the loan amount, financed into the loan. Annual MIP ranges from 0.45% to 1.05% depending on loan term and down payment. Closing costs in Brazoria County usually range from 2% to 5% of the purchase price. 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 does an FHA loan specialist do in Lake Jackson?
An FHA loan specialist guides borrowers through the FHA loan process. They help with credit requirements, property eligibility, and documentation. Specialists also explain Texas-specific rules like homestead exemptions and property tax prorations.
What are the FHA loan requirements in Texas?
FHA loans in Texas require a minimum credit score of 580 for 3.5% down payment. Borrowers must have a valid Social Security number and lawful residency. The property must meet FHA safety and appraisal standards set by HUD.
How long does an FHA loan take to close in Lake Jackson?
FHA loans typically close in 30 to 45 days in Lake Jackson. Delays can occur due to appraisal backlogs or title issues. Texas law requires a 3-day right of rescission for refinances but not for purchase loans.