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 Illinois before hiring.
Showing 5 fha loan specialists in Lockport, 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.
Parlay Mortgage & Property
16612 W 159th St #201, Lockport, IL 60441
8158386613
Trey McClure - Parlay Mortgage
16612 W 159th St, Lockport, IL 60441
6307088739
HomeBridge Financial Services, Inc.
16622 W 159th St #501, Lockport, IL 60441
8152642077
Chase Home Lending
16057 Farrell Rd, Lockport, IL 60441
7085160336
Joe Guzman - Chase Home Lending Advisor - NMLS ID 285429
16057 Farrell Rd, Lockport, IL 60441
7085160336
What Does a FHA Loan Specialist in Lockport Cost?
Typical costs for an FHA loan specialist in Illinois include an upfront mortgage insurance premium of 1.75 percent of the loan amount. Annual mortgage insurance premiums range from 0.45 to 1.05 percent of the loan balance. Closing costs in Lockport generally run between 2 and 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
What does an FHA loan specialist in Lockport do?
An FHA loan specialist guides borrowers through the FHA loan process. They help with credit requirements, property appraisals, and loan documentation. In Illinois, the specialist must follow state lending laws and federal FHA guidelines.
What are the FHA loan limits for Lockport Illinois?
FHA loan limits for Will County in 2024 are set by the Department of Housing and Urban Development. For a single-family home, the limit is typically around $498,257. These limits can change each year based on local median home prices.
How long does an FHA loan approval take in Illinois?
FHA loan approval in Illinois usually takes 30 to 45 days from application to closing. Delays can occur if additional documentation is needed. Illinois law requires lenders to provide a Loan Estimate within three business days of application.