Compare FHA Loan Specialists in Clearfield, UT
Looking for a fha loan specialist in Clearfield? Review the directory below to compare your options.
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State Mortgage Licensing Authority of Utah before hiring.
Showing 14 fha loan specialists in Clearfield, UT
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An FHA loan specialist in Clearfield, Utah can help you navigate the process of obtaining a government-backed mortgage. Clearfield is located in Davis County, where FHA loan limits for 2024 are set at $498,257 for a single-family home. These loans are popular for first-time homebuyers and those with lower credit scores, offering down payments as low as 3.5 percent.
What Does a FHA Loan Specialist in Clearfield Cost?
Typical costs for an FHA loan in Utah include an upfront mortgage insurance premium of 1.75 percent of the loan amount and an annual mortgage insurance premium of 0.55 percent to 0.85 percent. Closing costs in Clearfield generally range from 2 to 5 percent of the purchase price. Lender fees may vary. 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 in Clearfield do?
An FHA loan specialist guides you through the FHA loan application process, including pre-approval, documentation, and closing. They ensure the property meets FHA minimum property standards and help you understand Utah-specific requirements like the state's statutory redemption period after foreclosure.
What are the FHA loan limits for Clearfield Utah in 2024?
For 2024, the FHA loan limit for a single-family home in Davis County, including Clearfield, is $498,257. Limits are higher for multi-unit properties, up to $958,350 for a four-unit home. These limits are set by the U.S. Department of Housing and Urban Development.
Are there Utah-specific rules for FHA loans?
Yes, Utah has a statutory right of redemption period of 6 months after a foreclosure sale, which can affect FHA loan timelines. Also, Utah law requires lenders to provide a specific notice of default before initiating foreclosure. An FHA specialist can explain how these rules impact your loan.