North Carolina FHA Lender
North Carolina FHA loans are home loans insured by the FHA (Federal Housing Administration) which give North Carolina borrowers the opportunity to secure NC home loans, when they don’t quality for other conventional loans. For example, future North Carolina homeowners with little credit history or poor credit history are sometimes able to qualify for North Carolina FHA loans.
First Time Homeowners
NC FHA loans are ideal for first-time North Carolina homeowners due to low down-payment requirements and flexible qualifying guidelines.
Refinancing
FHA also offers a refinancing option for North Carolina homeowners where it’s possible to refinance up to 97.5 percent of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85 percent.
FHA Loan Requirements
- No income limit
- North Carolina borrower credit score flexibility
- 3.5 percent down payment on North Carolina Purchase Loans
- Bankruptcy: NC FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: North Carolina FHA loans can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
North Carolina (NC) FHA Loan Limits
FHA loan limits in North Carolina vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in North Carolina), etc. Please contact Home Point Financial’s North Carolina FHA loan experts for details on loan limits for FHA loans in North Carolina (NC). Contact Home Point Financial to learn more about FHA Loans in Charlotte, Raleigh, Greensboro and throughout North Carolina.
