Find FHA Loan Specialists Near You in Van Alstyne, TX
Browse fha loan specialists serving Van Alstyne, 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 3 fha loan specialists in Van Alstyne, TX
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An FHA loan specialist in Van Alstyne Texas can help you navigate the process of obtaining a mortgage insured by the Federal Housing Administration. These loans are popular in Texas because they allow lower down payments and have flexible credit requirements. Specialists can guide you through Texas specific rules like homestead exemptions and property tax prorations.
What Does a FHA Loan Specialist in Van Alstyne Cost?
Typical costs for an FHA loan specialist in Texas include an origination fee of 1 percent of the loan amount, plus third party fees for appraisal, credit report, and title services. These third party fees usually range from $500 to $1,500. The FHA also charges an upfront mortgage insurance premium of 1.75 percent of the loan amount, which can be financed into the loan. Annual mortgage insurance premiums vary from 0.45 percent to 1.05 percent depending on loan term and loan to value ratio. 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 are the FHA loan limits for Van Alstyne Texas?
FHA loan limits for Grayson County where Van Alstyne is located are set by HUD and change annually. For 2024 the single family home limit is typically around $498,257 for low cost areas. A specialist can confirm the exact limit for your desired property.
Do I need a special license to be an FHA loan specialist in Texas?
Yes, loan officers in Texas must hold a state license through the Texas Department of Savings and Mortgage Lending. They also need to complete continuing education on Texas specific laws such as the Texas Constitution Article XVI Section 50 regarding home equity loans.
What is the minimum down payment for an FHA loan in Texas?
The minimum down payment for an FHA loan in Texas is 3.5 percent of the purchase price if your credit score is 580 or higher. If your score is between 500 and 579 you may need a 10 percent down payment. A specialist can review your credit and help determine eligibility.