Find FHA Loan Specialists in Ennis, TX
Compare fha loan specialists in Ennis. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Texas before hiring.
Showing 12 fha loan specialists in Ennis, TX
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An FHA loan specialist in Ennis Texas helps homebuyers navigate Federal Housing Administration insured loans. These loans are popular in Ellis County due to lower down payment requirements and flexible credit guidelines. Texas law requires all mortgage loan originators to be licensed through the Nationwide Multistate Licensing System (NMLS).
What Does a FHA Loan Specialist in Ennis Cost?
Typical costs for an FHA loan in Texas include an upfront mortgage insurance premium (UFMIP) of 1.75 percent of the loan amount and an annual MIP of 0.55 percent to 1.05 percent depending on loan term and down payment. Closing costs in Ennis usually range from 2 to 5 percent of the loan amount. Lender fees, appraisal fees, and title insurance also apply. 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 Ennis?
An FHA loan specialist guides borrowers through the FHA loan process including pre approval, documentation, and closing. They help determine if you meet FHA credit score and debt to income ratio requirements.
What are the FHA loan limits for Ennis Texas?
For 2024 the FHA loan limit for a single family home in Ellis County is $498,257. This limit is set by the Department of Housing and Urban Development and may change annually.
Do I need a specific credit score for an FHA loan in Texas?
FHA loans generally require a minimum credit score of 580 for a 3.5 percent down payment. Scores between 500 and 579 may qualify with a 10 percent down payment. Each lender may have additional requirements.