Find FHA Loan Specialists Near You in Summit, IL
Browse fha loan specialists serving Summit, Illinois. Contact information and addresses listed below.
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
State Mortgage Licensing Authority of Illinois before hiring.
Showing 2 fha loan specialists in Summit, 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.
What Does a FHA Loan Specialist in Summit Cost?
Typical costs for an FHA loan specialist in Illinois include an origination fee of 1% to 1.5% of the loan amount. Upfront mortgage insurance premium is 1.75% of the base loan amount, and annual MIP ranges from 0.45% to 1.05% depending on loan term and loan-to-value ratio. Appraisal fees in Summit area 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.
Frequently Asked Questions
What are the FHA loan limits for Summit Illinois in 2025?
For Cook County which includes Summit, the 2025 FHA loan limit for a single-family home is $498,257. This amount is set by the U.S. Department of Housing and Urban Development and may change annually.
Do I need a special license to be an FHA loan specialist in Illinois?
Yes, all mortgage loan originators in Illinois must hold a valid license from the Illinois Department of Financial and Professional Regulation under the Residential Mortgage License Act. They must also complete continuing education each year.