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 Minnesota before hiring.
Showing 2 fha loan specialists in St Louis Park, MN
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
New American Funding - Saint Louis Park, MN
5320 W 23rd St #350, St Louis Park, MN 55416
9522133160
SWBC Mortgage Corp - Brandon Olson
600 US-169 Ste 700, St Louis Park, MN 55426
6124379567
What Does a FHA Loan Specialist in St Louis Park Cost?
Typical costs for an FHA loan specialist in Minnesota include an origination fee of 1 percent of the loan amount, plus third-party fees for appraisal, credit report, and title services. These third-party fees usually range from $500 to $1,500. The upfront mortgage insurance premium is 1.75 percent of the loan amount, and annual mortgage insurance premiums vary from 0.45 to 1.05 percent. Costs vary by situation. 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 are the FHA loan limits for St Louis Park Minnesota?
For 2024, the FHA loan limit for a single-family home in Hennepin County, which includes St Louis Park, is $498,257 for a standard loan. Higher limits apply for duplexes, triplexes, and fourplexes. These limits are set annually by the U.S. Department of Housing and Urban Development.
Do I need a specific license to be an FHA loan specialist in Minnesota?
Yes, all mortgage loan originators in Minnesota must hold a state license through the Nationwide Multistate Licensing System and be registered with the Minnesota Department of Commerce. This includes FHA loan specialists. You can verify a specialist license on the NMLS Consumer Access website.