FHA Loan Specialists in Mercedes, TX
Directory of fha loan specialists in Mercedes, Texas. 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 Texas before hiring.
Showing 7 fha loan specialists in Mercedes, TX
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
FHA loan specialists in Mercedes Texas help homebuyers secure government-backed mortgages with lower down payments and flexible credit requirements. These specialists guide clients through the FHA approval process, which is popular in the Rio Grande Valley for first-time buyers. Texas law requires all FHA loan originators to hold a valid state license through the Texas Department of Savings and Mortgage Lending.
What Does a FHA Loan Specialist in Mercedes 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 an annual premium of 0.55 to 0.85 percent. Closing costs in Mercedes usually range from 2 to 5 percent of the purchase price. Lender fees vary, so compare quotes from multiple specialists. 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 Mercedes Texas?
Most FHA loans require a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may still qualify with a 10 percent down payment. Each lender may set its own credit requirements above the FHA minimum.
Are there income limits for FHA loans in Mercedes Texas?
FHA loans do not have specific income limits for borrowers in Mercedes. However, the loan amount cannot exceed the FHA county loan limit for Hidalgo County, which is updated annually. Your debt-to-income ratio must also meet lender guidelines.