FHA loan specialists in Auburn Washington help homebuyers secure government-backed mortgages with lower down payments. Washington state law requires all loan originators to be licensed through the Department of Financial Institutions. Auburn residents benefit from FHA loans that allow down payments as low as 3.5 percent for qualified borrowers.
What Does a FHA Loan Specialist in Auburn Cost?
FHA loan costs in Washington include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual premium of 0.55 to 0.85 percent. Closing costs typically range from 2 to 5 percent of the purchase price. For a 400,000 dollar home this means 8,000 to 20,000 dollars in closing costs plus the upfront MIP. Note that these costs vary by lender and loan program. 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.
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