FHA Loans in NC, SC & GA
FHA loans are government-backed and built for buyers who want a low down payment or are still building credit. You can put down 3.5% with a credit score of 580 or higher.
How it works.
FHA loans are insured by the Federal Housing Administration, which makes lenders more flexible. At a 580 score or above you can put down 3.5%; scores between 500 and 579 may qualify with 10% down. FHA is more forgiving of past credit bumps than conventional. The trade-off: FHA loans carry mortgage insurance, an upfront premium plus an annual premium, and with a low down payment that annual premium generally lasts the life of the loan. FHA loan limits vary by county.
Who it's best for.
Buyers who want a lower down payment and more forgiving credit guidelines.
What you'll typically need.
- Pay stubs
- Two years of income docs
- Two months of bank statements
- ID
Common questions.
Does FHA mortgage insurance ever go away?
With the minimum down payment, the annual premium typically stays for the life of the loan. One common path is to refinance to conventional later once you have enough equity.
Can I use gift money for the down payment?
Yes, gifts from eligible donors are allowed. We document them the right way.
Sources: FHA Handbook 4000.1.
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Schedule a free consultation and we'll walk through your numbers, or start an application when you're ready to move.
Articles about FHA
- Loan ProgramsFHA Down Payment Requirements in North Carolina: What to Know Before You BuyFHA loans require a minimum 3.5% down payment for eligible borrowers in North Carolina, but your total cash to close includes closing costs and prepaids too. Here is what to understand before you apply.
- Loan ProgramsFHA vs. Conventional for a First Home in Charlotte: Which Wins?FHA or conventional for your first home in Charlotte? Here's how they really compare on down payment, credit, and mortgage insurance, in plain English.
Markets where I help buyers with this
A note on program availability & disclosures
Program eligibility, guidelines, and pricing are set by the applicable investor, agency, or program (FHA, VA, USDA, Fannie Mae, Freddie Mac, and others) and are subject to change without notice. Not all applicants will qualify. This information is for educational purposes only and is not a commitment to lend or a guarantee of approval, rate, payment, or closing date. Equal Housing Opportunity.
Let's find the right fit.
One 30-minute call is usually all it takes to narrow the field and pick the right program.
Keith Lopez, NMLS #2814077 | NEXA Mortgage, LLC, NMLS #1660690 | Licensed in NC, SC & GA | Equal Housing Opportunity