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Showing 2 fha loan specialists in South Elgin, 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.
Direct Mortgage Corporation
460 Briargate Dr STE 200, South Elgin, IL 60177
8476220564
Chase Home Lending
536 S Randall Rd, South Elgin, IL 60177
8474681241
What Does a FHA Loan Specialist in South Elgin Cost?
Typical costs for an FHA loan specialist in Illinois include origination fees of 1% to 2% of the loan amount, plus third-party costs like appraisal fees around $500 to $700 and credit report fees of $30 to $50. The upfront mortgage insurance premium is 1.75% of the loan amount, and annual mortgage insurance premiums range from 0.45% to 1.05% depending on loan terms. 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 do in South Elgin?
An FHA loan specialist guides borrowers through the FHA loan process, including pre-approval, documentation, and closing. They help South Elgin residents understand property eligibility and mortgage insurance requirements specific to FHA loans.
What are FHA loan limits for Kane County Illinois?
For 2024, FHA loan limits in Kane County, which includes South Elgin, are set at $498,257 for a single-family home. These limits are adjusted annually by the Department of Housing and Urban Development based on median home prices.