An FHA loan specialist in Collinsville Illinois can guide you through the process of obtaining a Federal Housing Administration insured mortgage. These loans are popular for first time homebuyers and those with lower credit scores. Illinois law requires all mortgage loan originators to be licensed through the Illinois Department of Financial and Professional Regulation.
What Does a FHA Loan Specialist in Collinsville Cost?
Typical costs for FHA loan specialist services in Illinois include an origination fee of 1 percent of the loan amount and an upfront mortgage insurance premium of 1.75 percent of the base loan amount. Annual mortgage insurance premiums range from 0.45 percent to 1.05 percent depending on loan term and loan to value ratio. Closing costs in Collinsville generally range from 2 to 5 percent of the purchase price. 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
FHA Loan Specialists in Other Illinois Cities
Algonquin · Alton · Antioch · Arlington Heights · Aurora · Barrington · Bartlett · Batavia · Belleville · Berwyn · Bloomingdale · Bloomington · Bolingbrook · Bourbonnais · Bradley