An FHA loan specialist in Godfrey, 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, and a local specialist understands the specific housing market in Godfrey and Madison County.
What Does a FHA Loan Specialist in Godfrey Cost?
Typical costs for an FHA loan specialist in Illinois include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual mortgage insurance premium that ranges from 0.45 to 1.05 percent depending on the loan term and down payment. Lender origination fees in Illinois usually range from 0.5 to 1.0 percent of the loan amount. Other costs like appraisal fees in Godfrey average $500 to $700. 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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FHA Loan Specialists in Other Illinois Cities
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