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Showing 2 fha loan specialists in Murphy, TX
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Geneva Financal LLC
318 FM 544 bldg d ste 4, Murphy, TX 75094
2143957630
Bank of America Home Mortgage
Murphy, TX 75094
9725097030
What Does a FHA Loan Specialist in Murphy Cost?
Typical costs for an FHA loan in Texas include the upfront MIP of 1.75 percent of the loan amount and annual MIP of 0.55 to 0.85 percent depending on loan term and down payment. Closing costs for a 300,000 dollar home can range from 6,000 to 15,000 dollars. Lender fees origination fees and appraisal costs vary by specialist. 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 requirements in Murphy Texas?
FHA loans require a minimum 3.5 percent down payment and a credit score of at least 580. The property must meet FHA minimum property standards and be your primary residence. Texas also requires a specific homestead affidavit for FHA loans on owner occupied homes.
How do I find a qualified FHA loan specialist in Murphy?
Look for a specialist licensed under the Texas Secure and Fair Enforcement for Mortgage Licensing Act. You can verify their license through the Nationwide Multistate Licensing System. Ask about their experience with FHA loans in Collin County specifically.
What costs are associated with FHA loans in Texas?
FHA loans require an upfront mortgage insurance premium of 1.75 percent of the loan amount plus annual MIP payments. Closing costs in Texas typically range from 2 to 5 percent of the loan amount. The seller can contribute up to 6 percent of the purchase price toward your closing costs.