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Showing 2 fha loan specialists in Westford, MA
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Best Rate Mortgage LLC
28 Broadway St, Westford, MA 01886
6179212153
Mortgage, Bank of America
190 Littleton Rd Ste 11, Westford, MA 01886
3513331635
What Does a FHA Loan Specialist in Westford 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 premium of 0.55 to 0.85 percent. Closing costs usually range from 2 to 5 percent of the purchase price. For a 400,000 home in Westford total closing costs could be 8,000 to 20,000. Note that costs vary by situation and this is general information 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 credit score is needed for an FHA loan in Westford Massachusetts?
The minimum FHA credit score is typically 580 for a 3.5 percent down payment. Some lenders may accept scores as low as 500 with a 10 percent down payment. Requirements can vary by lender and local market conditions.
Are there specific FHA loan limits for Westford Massachusetts?
Yes FHA loan limits are set by county. For Middlesex County which includes Westford the 2024 limit for a single family home is 1,149,825. This amount is adjusted annually based on area median home prices.
What documents do I need to apply for an FHA loan in Massachusetts?
You will need recent pay stubs W-2 forms tax returns for the last two years bank statements and a valid ID. Massachusetts lenders also require proof of residency and a signed mortgage application. Self employed borrowers may need additional profit and loss statements.