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Showing 2 fha loan specialists in Batavia, IL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Initial Mortgage, Inc.
108 1st St Suite 1, Batavia, IL 60510
8884064252
Chase Home Lending
5 N Randall Rd, Batavia, IL 60510
6304065518
What Does a FHA Loan Specialist in Batavia Cost?
Typical costs for an FHA loan specialist in Illinois include an origination fee of 1 percent of the loan amount, plus an upfront mortgage insurance premium of 1.75 percent of the base loan amount. Annual mortgage insurance premiums range from 0.45 to 1.05 percent of the loan balance. Closing costs in Batavia 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 are the FHA loan limits for Batavia, Illinois?
For 2024, the FHA loan limit for a single-family home in Kane County, which includes Batavia, is $498,257. This limit is set by the U.S. Department of Housing and Urban Development and applies to standard FHA loans.
What credit score is needed for an FHA loan in Illinois?
FHA loans typically require a minimum credit score of 580 for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Illinois lenders may have additional overlays beyond FHA minimums.