FHA Loan Specialists in Richmond, TX
Browse fha loan specialists serving Richmond, Texas. Contact information and addresses listed below.
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 6 fha loan specialists in Richmond, 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.
An FHA loan specialist in Richmond, Texas can guide you through the process of obtaining a mortgage insured by the Federal Housing Administration. These loans are popular with first-time homebuyers and those with lower credit scores. Texas law requires specific disclosures and a 12-day right of rescission for home equity loans, which an FHA specialist can explain.
What Does a FHA Loan Specialist in Richmond Cost?
Typical costs for an FHA loan specialist in Texas include an origination fee of up to 1 percent of the loan amount and third-party fees for appraisal, credit report, and title services. Appraisal fees in Richmond range from $500 to $700. Closing costs generally total 2 to 5 percent of the purchase price. 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 Richmond Texas?
The minimum credit score for an FHA loan is typically 580 with a 3.5 percent down payment. If your score is between 500 and 579, you may still qualify but need a 10 percent down payment. Each lender in Texas may have slightly higher requirements.
What are the FHA loan limits for Fort Bend County Texas?
For 2024, the FHA loan limit for a single-family home in Fort Bend County is $498,257. This limit applies to Richmond and most of the Houston area. Higher limits exist for multi-unit properties.
Do FHA loans require mortgage insurance in Texas?
Yes, all FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75 percent of the loan amount and an annual MIP. The annual MIP rate varies from 0.15 percent to 0.75 percent depending on your loan term and down payment. This insurance protects the lender if you default.