Find FHA Loan Specialists in St Francis, WI
Compare fha loan specialists in St Francis. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Wisconsin before hiring.
Showing 2 fha loan specialists in St Francis, WI
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An FHA loan specialist in St Francis, Wisconsin can guide you through the process of obtaining a mortgage insured by the Federal Housing Administration. These loans are popular for first-time homebuyers and those with lower credit scores. Wisconsin law requires all mortgage loan originators to be licensed through the Wisconsin Department of Financial Institutions.
What Does a FHA Loan Specialist in St Francis Cost?
Typical costs for an FHA loan in Wisconsin 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 St Francis generally range from 2 to 5 percent of the purchase price. These costs vary by lender and loan amount. 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 Francis, Wisconsin in 2025?
For 2025, the FHA loan limit for a single-family home in Milwaukee County, which includes St Francis, is $524,225 for a standard loan. Higher limits may apply for duplexes or larger properties. These limits are set annually by the Department of Housing and Urban Development.
What credit score is needed for an FHA loan in Wisconsin?
A minimum credit score of 580 is typically required for a 3.5 percent down payment FHA loan. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Each lender may have additional requirements.
What are the specific Wisconsin requirements for an FHA loan?
Wisconsin does not have state-specific FHA loan laws, but all mortgage originators must follow the Wisconsin Mortgage Banker and Loan Originator Law. The property must also meet FHA minimum property standards, and the borrower must occupy the home as their primary residence.