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Showing 3 fha loan specialists in Gardner, MA
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What Does a FHA Loan Specialist in Gardner Cost?
Typical costs for an FHA loan in Massachusetts include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual mortgage insurance premium of 0.55 to 0.85 percent depending on loan term and down payment. Closing costs in Gardner generally range from 2 to 5 percent of the purchase price. These costs vary by lender and property. 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 Gardner Massachusetts?
For 2025 the FHA loan limit for a single family home in Worcester County including Gardner is $524,225. Higher limits apply for multi unit properties. These limits are set by the Department of Housing and Urban Development and may change annually.
What down payment is required for an FHA loan in Massachusetts?
FHA loans require a minimum down payment of 3.5 percent of the purchase price if your credit score is 580 or higher. Borrowers with credit scores between 500 and 579 may qualify with a 10 percent down payment. Massachusetts does not have additional state down payment requirements.
Are there Massachusetts specific requirements for FHA loans?
Massachusetts requires a licensed mortgage loan originator to handle your FHA loan application. The state also mandates a 60 day right to cure period for foreclosure prevention. FHA loans in Massachusetts must comply with state property disclosure laws and lead paint regulations for homes built before 1978.