FHA loans help Americans realize the dream of home ownership.
FHA home loan program1 guidelines tend to be more flexible since they are government-insured loans. FHA loans are insured by the Federal Housing Administration (FHA), which is part of Housing and Urban Development (HUD).
What are FHA Loans?
An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA). They are popular mortgages among first time home buyers because the downpayment can be as low as 3.5% of the purchase price, and most of the closing costs and fees can be included in the loan.
What are the requirements for an FHA Loan?
Some FHA Loan requirements include a 3.5% downpayment, a credit score of 580, a steady employment history, a valid social security number or proof of residency.
Learn more about FHA Loan requirements and FHA Loan rates by talking with a South State banker today.Apply For a FHA Loan
If you’re interested in an FHA loan in Georgia, North Carolina, South Carolina, or Virginia, we’re here to help.
1. All loans subject to approval.