North Carolina FHA Loan Rates, Closing Costs & Stats

North Carolina

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    North Carolina FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in North Carolina averaged 6.46% for the week of 2023-12-01, compared to the national average (all FHA variants) of 6.949% for the same period.

    North Carolina's average FHA mortgage closing costs are $7,212.

    The average rate for the prior week (2023-11-24) was 6.57% and one month ago for the week of 2023-10-27, the average rate was 6.88%.

    The average rate one year ago was 5.69%.

    For refis of the same type during the week of 2023-12-01, the average rate was 5.46%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    North Carolina FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the North Carolina level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 3,056 4.45% $9,890
    MOVEMENT MORTGAGE, LLC 1,705 4.99% $9,624
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1,040 5.17% $10,275
    LOANDEPOT.COM, LLC 900 4.78% $9,843
    UNITED WHOLESALE MORTGAGE, LLC 849 4.79% $10,155
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 844 5.12% $9,044
    CROSSCOUNTRY MORTGAGE, LLC 550 5.22% $10,908
    CARDINAL FINANCIAL 543 4.80% $10,863
    FREEDOM MORTGAGE CORPORATION 530 4.87% $9,690
    DHI MORTGAGE COMPANY, LTD. 466 4.15% $8,640
    BROKER SOLUTIONS, INC. 462 5.13% $10,522
    Mr. Cooper ( Nationstar Mortgage ) 447 4.60% $11,908
    PENNYMAC LOAN SERVICES, LLC 413 4.13% $10,181
    AMERISAVE MORTGAGE CORPORATION 396 4.61% $11,072
    CORNERSTONE HOME LENDING, INC. 382 4.87% $9,642
    CALIBER HOME LOANS, INC. 355 4.76% $8,882
    Carrington Mortgage Services, LLC 314 5.20% $9,625
    LAKEVIEW LOAN SERVICING, LLC 281 4.09% $7,046
    GUARANTEED RATE, INC. 275 4.88% $9,580
    VANDERBILT MORTGAGE AND FINANCE, INC. 263 4.91% $11,626
    Alcova Mortgage LLC 243 5.18% $7,578
    NFM, INC. 240 5.32% $10,118
    Nations Lending Corporation 209 5.30% $10,697
    NVR Mortgage Finance, Inc. 200 4.32% $14,228
    GoPrime Mortgage, Inc. 187 5.33% $10,447
    NEWREZ LLC 183 4.72% $8,096
    Alpha Mortgage Corporation 176 5.25% $8,786
    UNION HOME MORTGAGE CORP. 174 5.22% $8,640
    American Security Mortgage Corp. 172 4.72% $9,138
    HOMESTAR FINANCIAL CORPORATION 163 5.14% $7,658
    CMG MORTGAGE, INC. 161 5.45% $10,212
    AMERICAN FINANCIAL RESOURCES, INC. 159 4.02% $10,124
    HOME POINT FINANCIAL CORPORATION 144 4.37% $9,076
    INTERCOASTAL MORTGAGE COMPANY 142 5.07% $8,556
    Blue Ridge Bank 140 5.27% $9,643
    HOMEBRIDGE FINANCIAL SERVICES, INC. 138 4.86% $10,108
    INSPIRE HOME LOANS INC. 135 5.13% $10,108
    RELIANCE FIRST CAPITAL, LLC 133 4.74% $9,689
    Truist 131 4.74% $8,217
    PRIMELENDING, A PLAINSCAPITAL COMPANY 127 4.98% $11,035
    PRIMARY RESIDENTIAL MORTGAGE, INC. 121 5.07% $11,280
    RAPID MORTGAGE COMPANY 119 5.05% $11,978
    HOMESIDE FINANCIAL, LLC 118 5.17% $9,861
    Flagstar Bank, FSB 117 4.56% $9,724
    CERTAINTY HOME LOANS, LLC 117 4.89% $9,912
    TOP FLITE FINANCIAL, INC. 117 5.20% $15,143
    Equity Prime Mortgage LLC 116 5.38% $11,148
    Ameris Bank 112 4.70% $8,917
    AMERICAN FINANCING CORPORATION 111 4.59% $9,364
    Mortgage Research Center, LLC 109 5.28% $6,543
    Prosperity Home Mortgage, LLC 106 5.23% $9,930
    Hometown Lenders, Inc. 104 5.12% $10,241
    Lakeview Community Capital, LLC 102 4.26% $7,313
    MORTGAGE SOLUTIONS OF COLORADO, LLC 102 5.16% $9,860
    Towne Bank 100 4.82% $9,798
    GUILD MORTGAGE COMPANY 100 4.99% $11,217
    MUTUAL OF OMAHA MORTGAGE, INC. 99 4.93% $11,339
    Wells Fargo Bank 95 4.88% $7,108
    AMERICAN PACIFIC MORTGAGE CORPORATION 90 5.31% $11,515
    ANGEL OAK HOME LOANS LLC 86 5.09% $9,598
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 82 5.31% $10,292
    Northpointe Bank 79 5.16% $10,651
    SOUTHERN TRUST MORTGAGE, LLC 78 4.89% $9,958
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 76 5.46% $10,491
    SeaTrust Mortgage Company 75 5.15% $10,582
    VILLAGE CAPITAL MORTGAGE 75 4.02% $7,380
    Wyndham Capital Mortgage, Inc. 75 4.86% $9,420
    Paramount Residential Mortgage Group, Inc. 74 5.00% $10,863
    The Federal Savings Bank 73 5.07% $12,574
    MATTAMY HOME FUNDING, LLC 73 4.64% $11,602
    AMERIFIRST FINANCIAL CORPORATION 70 5.42% $9,514
    HOMESPIRE MORTGAGE CORPORATION 67 5.10% $8,532
    MCLEAN MORTGAGE CORPORATION 67 4.81% $9,016
    LOANPAL, LLC 67 4.16% $12,945
    T2 FINANCIAL LLC 67 5.31% $10,998
    JET HOMELOANS, LLC 66 5.39% $9,649
    TOWNE MORTGAGE COMPANY 66 4.95% $9,020
    CAPITAL CENTER, L.L.C. 62 4.38% $5,271
    EAGLE HOME MORTGAGE, LLC 62 5.09% $8,442
    First Federal Bank 60 4.58% $10,964
    PNC Bank 60 4.45% $6,658
    PLANET HOME LENDING, LLC 60 4.60% $8,185
    EQUITY RESOURCES, INC. 59 4.77% $8,187
    SUN WEST MORTGAGE COMPANY, INC. 58 4.63% $10,237
    Allen Tate Mortgage Partners, LLC 51 5.50% $9,485
    North State Bank 51 5.01% $8,701
    ON Q FINANCIAL, INC. 51 5.34% $9,270
    First Guaranty Mortgage Corporation 50 4.03% $8,946
    OVM FINANCIAL, INC. 50 4.60% $8,263
    United Community Bank 49 4.86% $9,590
    DAS Acquisition Company, LLC 48 5.16% $9,875
    First Heritage Mortgage, LLC 48 5.12% $10,444
    EVERETT FINANCIAL, INC. 47 5.18% $6,307
    Victorian Finance, LLC 46 5.04% $11,002
    PLAZA HOME MORTGAGE, INC. 45 5.04% $10,957
    Wolfe Financial, Inc 45 5.41% $8,628
    Bank of America 44 4.23% $7,133
    M/I FINANCIAL, LLC 43 4.32% $10,727
    GENEVA FINANCIAL, LLC 42 4.94% $10,701
    EMM LOANS LLC 40 4.98% $9,902
    THE MORTGAGE FIRM, INC. 40 5.12% $10,283
    Uwharrie Bank 39 4.99% $8,219
    M&T Bank 38 4.14% $8,207
    Shamrock Home Loans, Inc. 37 5.13% $10,247
    Citizens Bank 37 4.45% $8,377
    Barrington Bank & Trust Company, N.A. 35 4.83% $8,997
    First-Citizens Bank & Trust Company 35 4.70% $8,397
    U.S. Bank 35 4.87% $8,058
    CBM Mortgage, Inc. 33 4.85% $9,868
    PANORAMA MORTGAGE GROUP, LLC 33 5.13% $13,502
    ALLIED MORTGAGE GROUP, INC. 32 4.65% $10,638
    Bank of England 32 5.48% $11,078
    SUCCESS MORTGAGE PARTNERS, INC. 32 5.04% $8,758
    Gateway First Bank 31 5.42% $8,679
    PULTE MORTGAGE LLC 30 4.75% $9,071
    BAY EQUITY LLC 30 4.85% $11,881
    THRIVE MORTGAGE, LLC 29 5.22% $9,458
    ZILLOW HOME LOANS, LLC 29 5.14% $10,366
    MID AMERICA MORTGAGE, INC. 29 5.25% $5,388
    ACADEMY MORTGAGE CORPORATION 29 4.89% $10,622
    EMBRACE HOME LOANS, INC. 29 5.13% $9,333
    Platinum Home Mortgage Corporation 29 5.09% $11,470
    1ST SIGNATURE LENDING, LLC 28 5.21% $12,194
    SOVEREIGN LENDING GROUP INCORPORATED 28 4.45% $12,229
    JPMorgan Chase Bank 28 4.81% $6,369
    Fifth Third Bank 26 4.78% $6,974
    FINANCE OF AMERICA MORTGAGE LLC 26 4.03% $7,946
    Truliant Federal Credit Union 26 4.88% $6,753
    Renasant Bank 25 4.48% $8,920
    Colten Mortgage, LLC 25 4.16% $11,875
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 24 5.65% $9,673
    Magnolia Bank 24 5.09% $10,661
    Plains Commerce Bank 23 5.52% $9,872
    LIBERTY HOME MORTGAGE CORPORATION 23 5.27% $11,708
    POLARIS HOME FUNDING CORP. 23 5.26% $10,046
    CIS Financial Services, Inc. 22 5.60% $9,093
    FBC MORTGAGE, LLC 22 5.37% $9,703
    CALCON MUTUAL MORTGAGE LLC 21 4.61% $10,473
    PREMIER LENDING, INC. 21 5.54% $11,343
    SECURITYNATIONAL MORTGAGE COMPANY 20 5.74% $9,580
    Amerifirst Financial, Inc. 20 4.68% $7,849
    AmeriHome Mortgage Company, LLC 20 5.10% $10,325
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 20 5.29% $10,682
    CHURCHILL MORTGAGE CORPORATION 20 4.40% $9,804
    The Central Trust Bank 20 4.83% $9,451
    KBHS HOME LOANS, LLC 20 4.97% $13,688
    KELLER MORTGAGE, LLC 19 4.18% $7,704
    Hometown Equity Mortgage, LLC 19 4.97% $10,283
    TJC Mortgage, Inc. 19 5.07% $12,381
    Pinnacle Bank 18 4.80% $8,308
    RADIUS FINANCIAL GROUP INC. 18 5.04% $9,693
    The Fidelity Bank 18 5.07% $7,850
    Corporate Investors Mortgage Group, Inc. 18 5.38% $12,359
    Towne Mortgage of the Carolinas, LLC 18 4.76% $10,089
    RESIDENTIAL BANCORP 17 4.73% $10,948
    HAMILTON HOME LOANS, INC. 17 4.66% $10,831
    C & F Mortgage Corporation 17 4.99% $9,727
    MILEND, INC. 17 4.71% $13,259
    GUARANTEED RATE AFFINITY, LLC 17 5.12% $9,977
    MICHIGAN MUTUAL, INC. 17 5.64% $9,654
    MORTGAGE FINANCIAL GROUP, INC. 16 5.08% $9,985
    ACOPIA, LLC 16 5.20% $10,397
    LAND HOME FINANCIAL SERVICES, INC. 15 5.40% $9,348
    MIDLAND MORTGAGE CORPORATION 15 5.02% $11,162
    Strong Home Mortgage, LLC 15 4.09% $8,578
    FIRST HOME MORTGAGE CORPORATION 15 5.31% $12,195
    MY MORTGAGE, INC. 14 5.15% $8,310
    Regions Bank 14 4.79% $8,370
    Century Mortgage Company DBA Century Lending Company 14 4.95% $10,679
    RESOURCE FINANCIAL SERVICES, INC. 14 5.29% $9,432
    RUOFF MORTGAGE COMPANY, INC. 14 4.80% $7,005
    NETWORK CAPITAL FUNDING CORPORATION 13 5.37% $10,670
    SUMMIT FUNDING, INC. 13 5.08% $10,590
    FAIR WAY LENDING LLC 13 4.76% $9,851
    Encompass Lending Group, LP 13 5.58% $9,627
    MORIA DEVELOPMENT, INC. 13 4.73% $9,445
    CityWorth Mortgage LLC 13 4.70% $11,869
    United Bank 13 5.05% $7,984
    UNITED MORTGAGE CORP 13 4.39% $11,524
    VERITAS FUNDING, LLC 13 4.82% $16,208
    GSF Mortgage Corporation 12 5.41% $11,125
    TIDEWATER MORTGAGE SERVICES, INC. 12 4.81% $9,210
    Atlantic Coast Mortgage, LLC 12 5.72% $11,098
    MLD MORTGAGE INC. 11 5.25% $10,241
    SOUTHPOINT FINANCIAL SERVICES, INC. 11 4.23% $15,014
    DIRECT MORTGAGE LOANS, LLC 11 5.14% $8,381
    SOUTHWEST STAGE FUNDING, LLC 10 5.86% $6,178
    PENTAGON FEDERAL CREDIT UNION 10 5.25% $10,153
    NEW DAY FINANCIAL, LLC 10 5.08% $7,305
    BETTER MORTGAGE CORPORATION 10 4.50% $9,052
    LADERA LENDING, INC. 10 4.53% $11,506
    PHH Mortgage Corporation 10 4.93% $7,362
    CONTOUR MORTGAGE CORPORATION 9 5.00% $13,011
    ARC HOME LLC 9 3.62% $6,931
    NATIONS DIRECT MORTGAGE, LLC 9 5.01% $10,742
    LOANLEADERS OF AMERICA, INC. 9 5.49% $16,360
    Willamette Valley Bank 9 4.33% $9,799
    NATIONWIDE MORTGAGE BANKERS, INC. 9 5.06% $10,707
    OCEANSIDE MORTGAGE COMPANY 9 5.03% $5,708
    South Pacific Financial Corporation 9 4.31% $12,318
    First Bank 8 4.30% $8,582
    First Horizon Bank 8 4.34% $8,823
    West Town Bank & Trust 8 4.02% $8,693
    George Mason Mortgage, LLC 8 4.19% $10,769
    HOMEOWNERS FINANCIAL GROUP USA, LLC 8 5.52% $11,927
    SHELTER HOME MORTGAGE, LLC 8 4.67% $11,120
    ROYAL UNITED MORTGAGE LLC 8 4.89% $13,103
    AMCAP MORTGAGE, LTD. 8 4.86% $7,358
    OCMBC, INC. 7 5.71% $14,937
    ABSOLUTE HOME MORTGAGE CORPORATION 7 5.68% $13,193
    Tidewater Home Funding, LLC 7 4.93% $9,062
    Residential Mortgage Solutions, Inc. 7 5.36% $12,352
    Towne Mortgage, LLC 7 5.45% $9,374
    PREMIA MORTGAGE, LLC 7 5.05% $6,599
    HUNT MORTGAGE CORPORATION 7 4.57% $9,980
    Texana Bank 7 4.45% $10,828
    US MORTGAGE CORPORATION 7 5.27% $9,043
    VAN DYK MORTGAGE CORPORATION 7 5.02% $6,969
    Peoples Bank 7 4.91% $11,991
    First Home Bank 7 4.45% $11,254
    NBKC BANK 6 4.98% $8,347
    CASTLE & COOKE MORTGAGE, LLC 6 5.48% $9,377
    FLAT BRANCH MORTGAGE, INC. 6 4.23% $10,931
    HOMESTEAD FUNDING CORP. 6 4.81% $8,944
    LEADERONE FINANCIAL CORPORATION 6 5.65% $7,396
    Advance Financial Group, LLC 6 5.40% $10,540
    OPEN MORTGAGE, LLC 6 4.33% $11,087
    FIRST COMMUNITY MORTGAGE, INC. 6 4.98% $10,450
    First Savings Bank 6 5.88% $12,148
    First National Bank of Pennsylvania 6 4.25% $7,489
    Princeton Mortgage Corporation 6 4.15% $12,586
    Austin Capital Bank SSB 6 4.56% $8,593
    NTFN, INC. 6 5.71% $8,440
    BAYSHORE MORTGAGE FUNDING, LLC 5 5.40% $7,968
    BNC National Bank 5 4.80% $10,131
    Capital City Home Loans, LLC 5 4.93% $9,083
    EUSTIS AND AMERICAN MORTGAGE COMPANY 5 3.88% $7,247
    First Option Mortgage, LLC 5 4.85% $13,386
    HALLMARK HOME MORTGAGE, LLC 5 5.25% $9,572
    MYCUMORTGAGE, LLC 5 4.80% $5,905
    NP, Inc. 5 5.38% $9,413
    South State Bank 5 4.93% $8,187
    STOCKTON MORTGAGE CORPORATION 5 5.58% $8,825
    Atlantic Union Bank 4 5.25% $8,951
    SIRVA MORTGAGE, INC. 4 5.09% $10,055
    BECKAM FUNDING CORP. 4 5.81% $12,965
    INTERSTATE HOME LOAN CENTER, INC. 4 4.31% $14,598
    Paramount Bank 4 4.41% $11,282
    INTERLINC MORTGAGE SERVICES, LLC 4 6.06% $7,400
    Integrity Home Mortgage Corp 4 6.31% $8,999
    BEST CAPITAL FUNDING 4 4.19% $9,626
    VELOCIO MORTGAGE L.L.C. 4 5.91% $11,940
    MDE Home Loans, LLC 4 6.47% $8,898
    NEW FED MORTGAGE, CORP. 4 6.00% $9,986
    AmRes Corporation 4 4.69% $9,546
    LEGEND LENDING CORPORATION 4 6.28% $12,171
    North American Savings Bank, F.S.B. 4 5.16% $6,927
    JLB CORPORATION 4 4.84% $9,626
    JET DIRECT FUNDING CORP 3 5.00% $7,353
    NORWICH COMMERCIAL GROUP, INC. 3 4.50% $9,391
    Ixonia Bank 3 5.54% $11,121
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 5.46% $9,637
    Cornerstone First Mortgage, Inc 3 4.96% $10,870
    Credence Funding Corporation 3 4.46% $10,860
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 3 4.08% $8,037
    Watermark Capital, Inc. 3 5.79% $7,521
    DRAPER AND KRAMER MORTGAGE CORP. 3 4.88% $11,862
    East Coast Capital Corp. 3 5.00% $9,839
    HANCOCK MORTGAGE PARTNERS, LLC 3 4.46% $9,563
    The Huntington National Bank 3 3.92% $9,466
    NATIONS RELIABLE LENDING, LLC 3 4.29% $8,653
    Sierra Pacific Mortgage Company, Inc. 3 3.96% $7,471
    MORTGAGE INVESTORS GROUP, INC. 3 5.58% $11,948
    ENVOY MORTGAGE, LTD 3 5.75% $7,587
    FAY SERVICING, LLC 3 4.33% $6,962
    F & M BANK CORP. 3 5.67% $9,870
    TD Bank 3 4.83% $7,374
    Acre Mortgage and Financial Inc 3 4.71% $16,052
    FIDELITY DIRECT MORTGAGE, LLC 3 3.88% $9,190
    SWBC MORTGAGE CORPORATION 3 5.92% $4,818
    UNIVERSAL MORTGAGE & FINANCE, INC. 3 5.71% $10,892
    American National Bank and Trust Company 3 3.92% $8,408
    NORTHERN MORTGAGE SERVICES, LLC 3 5.08% $8,293
    United Fidelity Funding Corp. 3 6.00% $14,741
    Colonial Savings, F.A. 3 5.13% $15,878
    JAMES B. NUTTER & COMPANY 2 3.44% $4,521
    NewTowne Mortgage, LLC 2 5.50% $12,067
    Mortgage Network, Inc. 2 6.06% $9,223
    Mortgage Assurance Inc. 2 3.44% $5,840
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 5.25% $8,883
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 2 6.50% $17,022
    Loan Simple, Inc. 2 4.19% $9,911
    RESIDENTIAL HOME FUNDING CORP. 2 3.75% $11,019
    S1L, Inc. 2 4.56% $10,577
    Semper Home Loans, Inc. 2 5.00% $10,712
    GUARANTY HOME MORTGAGE CORPORATION 2 5.38% $9,168
    GMFS LLC 2 5.00% $7,100
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 6.06% $10,844
    First Mortgage Solutions, LLC 2 3.00% $9,504
    FirstBank 2 3.50% $8,221
    Sunflower Bank 2 5.12% $13,512
    Evolve Bank & Trust 2 4.69% $8,167
    TOTAL MORTGAGE SERVICES, LLC 2 5.13% $14,077
    CLEARPATH LENDING 2 3.25% $7,219
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.00% $8,333
    1st National Bank 2 2.88% $7,317
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 2 3.50% $7,056
    BancorpSouth 2 6.13% $8,744
    Waterstone Mortgage Corporation 2 6.13% $9,304
    OAKTREE FUNDING CORP. 2 5.19% $17,120
    GEO-CORP, INC. 1 6.25% $15,049
    PIKE CREEK MORTGAGE SERVICES, INC. 1 5.50% $10,174
    Southern First Bank 1 3.63% $5,133
    Servion, Inc. 1 6.00% $9,919
    Elements Financial Federal Credit Union 1 4.25% $8,639
    The Union Bank Company 1 3.25% $7,874
    HARBORONE MORTGAGE, LLC 1 4.88% $14,852
    Sandy Spring Bank 1 3.25% $10,437
    DATA MORTGAGE, INC. 1 3.88% $9,263
    CRESCENT MORTGAGE COMPANY 1 2.88% $4,530
    IMPAC MORTGAGE CORP. 1 5.75% $10,403
    ONY GLO, INC. 1 3.63% $7,253
    Independent Bank 1 6.63% $9,980
    COUNTRYPLACE MORTGAGE, LTD. 1 4.75% $24,152
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 4.25% $6,543
    COMPASS MORTGAGE, INC. 1 4.75% $15,217
    TruHome Solutions, LLC 1 5.13% $11,326
    LANGLEY 1 3.75% $5,409
    Neighborhood Loans, Inc. 1 5.75% $7,982
    NEXERA HOLDING LLC 1 3.75% $14,758
    UNITED 1 6.63% $13,190
    Chickasaw Community Bank 1 3.50% $6,878
    BOKF 1 2.88% $8,922
    LENOX FINANCIAL MORTGAGE CORPORATION 1 3.63% $8,413
    MEMBER FIRST MORTGAGE, LLC 1 6.63% $10,932
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 5.13% $14,946
    UNITED SECURITY FINANCIAL CORP 1 6.88% $8,310
    Meridian Bank Corporation 1 4.25% $15,356
    Mid-Continent Funding, Inc. 1 7.00% $10,698
    Univest Bank and Trust Co. 1 5.38% $6,487
    American Mortgage Bank, LLC 1 4.88% $10,712
    Bank of Tennessee 1 6.00% $14,542
    AMERICAN ADVISORS GROUP 1 5.63% $9,970
    WRIGHT-PATT CREDIT UNION, INC. 1 6.63% $9,561
    MORTGAGE ACCESS CORP. 1 5.63% $9,923
    MORTGAGE EQUITY PARTNERS LLC 1 3.25% $12,616
    Assurance Financial Group, L.L.C. 1 2.88% $7,150
    Armed Forces Bank 1 6.63% $7,782
    Stride Bank 1 3.50% $11,629
    First Internet Bank of Indiana 1 5.13% $5,819
    First Federal Bank of Kansas City 1 6.25% $7,374
    NATION ONE MORTGAGE CORPORATION 1 6.75% $10,138
    V.I.P. MORTGAGE, INC. 1 5.63% $10,606
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.75% $9,509
    1ST PREFERENCE MORTGAGE CORP. 1 4.00% $7,877
    Synovus Bank 1 4.63% $11,223
    First Palmetto Bank 1 6.13% $7,362
    First State Bank 1 5.63% $5,505
    FIDELITY BANK 1 6.13% $8,368

    The top North Carolina FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 3,056 FHA loans originated. Their average total fees are $9,890, which is $267 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee North Carolina FHA lenders (with over 10 loans originated) are CAPITAL CENTER, L.L.C. ($5,271), MID AMERICA MORTGAGE, INC. ($5,388), SOUTHWEST STAGE FUNDING, LLC ($6,178), EVERETT FINANCIAL, INC. ($6,307) and JPMorgan Chase Bank ($6,369).

    The lowest rate North Carolina FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (4.02%), AMERICAN FINANCIAL RESOURCES, INC. (4.02%), First Guaranty Mortgage Corporation (4.03%), FINANCE OF AMERICA MORTGAGE LLC (4.03%) and LAKEVIEW LOAN SERVICING, LLC (4.09%).

    North Carolina FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BURLINGTON, NC ALAMANCE 2022 $420,680 $538,650 $651,050 $809,150
    HICKORY-LENOIR-MORGANTON, NC ALEXANDER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ALLEGHANY 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ANSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ASHE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO AVERY 2022 $420,680 $538,650 $651,050 $809,150
    WASHINGTON, NC BEAUFORT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BERTIE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BLADEN 2022 $420,680 $538,650 $651,050 $809,150
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC BRUNSWICK 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC BUNCOMBE 2022 $420,680 $538,650 $651,050 $809,150
    HICKORY-LENOIR-MORGANTON, NC BURKE 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC CABARRUS 2022 $420,680 $538,650 $651,050 $809,150
    HICKORY-LENOIR-MORGANTON, NC CALDWELL 2022 $420,680 $538,650 $651,050 $809,150
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CAMDEN 2022 $488,750 $625,700 $756,300 $939,900
    MOREHEAD CITY, NC CARTERET 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CASWELL 2022 $420,680 $538,650 $651,050 $809,150
    HICKORY-LENOIR-MORGANTON, NC CATAWBA 2022 $420,680 $538,650 $651,050 $809,150
    DURHAM-CHAPEL HILL, NC CHATHAM 2022 $506,000 $647,750 $783,000 $973,100
    NON-METRO CHEROKEE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CHOWAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CLAY 2022 $420,680 $538,650 $651,050 $809,150
    SHELBY, NC CLEVELAND 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO COLUMBUS 2022 $420,680 $538,650 $651,050 $809,150
    NEW BERN, NC CRAVEN 2022 $420,680 $538,650 $651,050 $809,150
    FAYETTEVILLE, NC CUMBERLAND 2022 $420,680 $538,650 $651,050 $809,150
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CURRITUCK 2022 $488,750 $625,700 $756,300 $939,900
    KILL DEVIL HILLS, NC DARE 2022 $471,500 $603,600 $729,600 $906,750
    WINSTON-SALEM, NC DAVIDSON 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC DAVIE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO DUPLIN 2022 $420,680 $538,650 $651,050 $809,150
    DURHAM-CHAPEL HILL, NC DURHAM 2022 $506,000 $647,750 $783,000 $973,100
    ROCKY MOUNT, NC EDGECOMBE 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC FORSYTH 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC GASTON 2022 $420,680 $538,650 $651,050 $809,150
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC GATES 2022 $488,750 $625,700 $756,300 $939,900
    NON-METRO GRAHAM 2022 $420,680 $538,650 $651,050 $809,150
    DURHAM-CHAPEL HILL, NC GRANVILLE 2022 $506,000 $647,750 $783,000 $973,100
    NON-METRO GREENE 2022 $420,680 $538,650 $651,050 $809,150
    GREENSBORO-HIGH POINT, NC GUILFORD 2022 $420,680 $538,650 $651,050 $809,150
    ROANOKE RAPIDS, NC HALIFAX 2022 $420,680 $538,650 $651,050 $809,150
    FAYETTEVILLE, NC HARNETT 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC HAYWOOD 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC HENDERSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HERTFORD 2022 $420,680 $538,650 $651,050 $809,150
    FAYETTEVILLE, NC HOKE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HYDE 2009 $483,000 $618,300 $747,400 $928,850
    CHARLOTTE-CONCORD-GASTONIA, NC-SC IREDELL 2022 $420,680 $538,650 $651,050 $809,150
    CULLOWHEE, NC JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC JOHNSTON 2022 $420,680 $538,650 $651,050 $809,150
    NEW BERN, NC JONES 2022 $420,680 $538,650 $651,050 $809,150
    SANFORD, NC LEE 2022 $420,680 $538,650 $651,050 $809,150
    KINSTON, NC LENOIR 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
    MARION, NC MCDOWELL 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MACON 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC MADISON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MARTIN 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC MECKLENBURG 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MITCHELL 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
    PINEHURST-SOUTHERN PINES, NC MOORE 2022 $420,680 $538,650 $651,050 $809,150
    ROCKY MOUNT, NC NASH 2022 $420,680 $538,650 $651,050 $809,150
    WILMINGTON, NC NEW HANOVER 2022 $420,680 $538,650 $651,050 $809,150
    ROANOKE RAPIDS, NC NORTHAMPTON 2022 $420,680 $538,650 $651,050 $809,150
    JACKSONVILLE, NC ONSLOW 2022 $420,680 $538,650 $651,050 $809,150
    DURHAM-CHAPEL HILL, NC ORANGE 2022 $506,000 $647,750 $783,000 $973,100
    NEW BERN, NC PAMLICO 2022 $420,680 $538,650 $651,050 $809,150
    ELIZABETH CITY, NC PASQUOTANK 2021 $805,000 $1,030,550 $1,245,700 $1,548,100
    WILMINGTON, NC PENDER 2022 $420,680 $538,650 $651,050 $809,150
    ELIZABETH CITY, NC PERQUIMANS 2021 $805,000 $1,030,550 $1,245,700 $1,548,100
    DURHAM-CHAPEL HILL, NC PERSON 2022 $506,000 $647,750 $783,000 $973,100
    GREENVILLE, NC PITT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO POLK 2022 $420,680 $538,650 $651,050 $809,150
    GREENSBORO-HIGH POINT, NC RANDOLPH 2022 $420,680 $538,650 $651,050 $809,150
    ROCKINGHAM, NC RICHMOND 2022 $420,680 $538,650 $651,050 $809,150
    LUMBERTON, NC ROBESON 2022 $420,680 $538,650 $651,050 $809,150
    GREENSBORO-HIGH POINT, NC ROCKINGHAM 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ROWAN 2022 $420,680 $538,650 $651,050 $809,150
    FOREST CITY, NC RUTHERFORD 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SAMPSON 2022 $420,680 $538,650 $651,050 $809,150
    LAURINBURG, NC SCOTLAND 2022 $420,680 $538,650 $651,050 $809,150
    ALBEMARLE, NC STANLY 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC STOKES 2022 $420,680 $538,650 $651,050 $809,150
    MOUNT AIRY, NC SURRY 2022 $420,680 $538,650 $651,050 $809,150
    CULLOWHEE, NC SWAIN 2022 $420,680 $538,650 $651,050 $809,150
    BREVARD, NC TRANSYLVANIA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO TYRRELL 2022 $420,680 $538,650 $651,050 $809,150
    CHARLOTTE-CONCORD-GASTONIA, NC-SC UNION 2022 $420,680 $538,650 $651,050 $809,150
    HENDERSON, NC VANCE 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC WAKE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WARREN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    BOONE, NC WATAUGA 2022 $420,680 $538,650 $651,050 $809,150
    GOLDSBORO, NC WAYNE 2022 $420,680 $538,650 $651,050 $809,150
    NORTH WILKESBORO, NC WILKES 2022 $420,680 $538,650 $651,050 $809,150
    WILSON, NC WILSON 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC YADKIN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO YANCEY 2022 $420,680 $538,650 $651,050 $809,150
    BURLINGTON, NC ALAMANCE 2023 $472,030 $604,400 $730,525 $907,900
    HICKORY-LENOIR-MORGANTON, NC ALEXANDER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO ALLEGHANY 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ANSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO ASHE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO AVERY 2023 $472,030 $604,400 $730,525 $907,900
    WASHINGTON, NC BEAUFORT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BERTIE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BLADEN 2023 $472,030 $604,400 $730,525 $907,900
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC BRUNSWICK 2023 $472,030 $604,400 $730,525 $907,900
    ASHEVILLE, NC BUNCOMBE 2023 $472,030 $604,400 $730,525 $907,900
    HICKORY-LENOIR-MORGANTON, NC BURKE 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC CABARRUS 2023 $472,030 $604,400 $730,525 $907,900
    HICKORY-LENOIR-MORGANTON, NC CALDWELL 2023 $472,030 $604,400 $730,525 $907,900
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CAMDEN 2023 $507,150 $649,250 $784,800 $975,300
    MOREHEAD CITY, NC CARTERET 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CASWELL 2023 $472,030 $604,400 $730,525 $907,900
    HICKORY-LENOIR-MORGANTON, NC CATAWBA 2023 $472,030 $604,400 $730,525 $907,900
    DURHAM-CHAPEL HILL, NC CHATHAM 2023 $602,600 $771,450 $932,500 $1,158,850
    NON-METRO CHEROKEE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CHOWAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CLAY 2023 $472,030 $604,400 $730,525 $907,900
    SHELBY, NC CLEVELAND 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO COLUMBUS 2023 $472,030 $604,400 $730,525 $907,900
    NEW BERN, NC CRAVEN 2023 $472,030 $604,400 $730,525 $907,900
    FAYETTEVILLE, NC CUMBERLAND 2023 $472,030 $604,400 $730,525 $907,900
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CURRITUCK 2023 $507,150 $649,250 $784,800 $975,300
    KILL DEVIL HILLS, NC DARE 2023 $603,750 $772,900 $934,250 $1,161,050
    WINSTON-SALEM, NC DAVIDSON 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC DAVIE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO DUPLIN 2023 $472,030 $604,400 $730,525 $907,900
    DURHAM-CHAPEL HILL, NC DURHAM 2023 $602,600 $771,450 $932,500 $1,158,850
    ROCKY MOUNT, NC EDGECOMBE 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC FORSYTH 2023 $472,030 $604,400 $730,525 $907,900
    RALEIGH-CARY, NC FRANKLIN 2023 $502,550 $643,350 $777,650 $966,450
    CHARLOTTE-CONCORD-GASTONIA, NC-SC GASTON 2023 $472,030 $604,400 $730,525 $907,900
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC GATES 2023 $507,150 $649,250 $784,800 $975,300
    NON-METRO GRAHAM 2023 $472,030 $604,400 $730,525 $907,900
    DURHAM-CHAPEL HILL, NC GRANVILLE 2023 $602,600 $771,450 $932,500 $1,158,850
    NON-METRO GREENE 2023 $472,030 $604,400 $730,525 $907,900
    GREENSBORO-HIGH POINT, NC GUILFORD 2023 $472,030 $604,400 $730,525 $907,900
    ROANOKE RAPIDS, NC HALIFAX 2023 $472,030 $604,400 $730,525 $907,900
    FAYETTEVILLE, NC HARNETT 2023 $472,030 $604,400 $730,525 $907,900
    ASHEVILLE, NC HAYWOOD 2023 $472,030 $604,400 $730,525 $907,900
    ASHEVILLE, NC HENDERSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HERTFORD 2023 $472,030 $604,400 $730,525 $907,900
    FAYETTEVILLE, NC HOKE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HYDE 2023 $483,000 $618,300 $747,400 $928,850
    CHARLOTTE-CONCORD-GASTONIA, NC-SC IREDELL 2023 $472,030 $604,400 $730,525 $907,900
    CULLOWHEE, NC JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    RALEIGH-CARY, NC JOHNSTON 2023 $502,550 $643,350 $777,650 $966,450
    NEW BERN, NC JONES 2023 $472,030 $604,400 $730,525 $907,900
    SANFORD, NC LEE 2023 $472,030 $604,400 $730,525 $907,900
    KINSTON, NC LENOIR 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
    MARION, NC MCDOWELL 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MACON 2023 $472,030 $604,400 $730,525 $907,900
    ASHEVILLE, NC MADISON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MARTIN 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC MECKLENBURG 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MITCHELL 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900
    PINEHURST-SOUTHERN PINES, NC MOORE 2023 $472,030 $604,400 $730,525 $907,900
    ROCKY MOUNT, NC NASH 2023 $472,030 $604,400 $730,525 $907,900
    WILMINGTON, NC NEW HANOVER 2023 $472,030 $604,400 $730,525 $907,900
    ROANOKE RAPIDS, NC NORTHAMPTON 2023 $472,030 $604,400 $730,525 $907,900
    JACKSONVILLE, NC ONSLOW 2023 $472,030 $604,400 $730,525 $907,900
    DURHAM-CHAPEL HILL, NC ORANGE 2023 $602,600 $771,450 $932,500 $1,158,850
    NEW BERN, NC PAMLICO 2023 $472,030 $604,400 $730,525 $907,900
    ELIZABETH CITY, NC PASQUOTANK 2023 $805,000 $1,030,550 $1,245,700 $1,548,100
    WILMINGTON, NC PENDER 2023 $472,030 $604,400 $730,525 $907,900
    ELIZABETH CITY, NC PERQUIMANS 2023 $805,000 $1,030,550 $1,245,700 $1,548,100
    DURHAM-CHAPEL HILL, NC PERSON 2023 $602,600 $771,450 $932,500 $1,158,850
    GREENVILLE, NC PITT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO POLK 2023 $472,030 $604,400 $730,525 $907,900
    GREENSBORO-HIGH POINT, NC RANDOLPH 2023 $472,030 $604,400 $730,525 $907,900
    ROCKINGHAM, NC RICHMOND 2023 $472,030 $604,400 $730,525 $907,900
    LUMBERTON, NC ROBESON 2023 $472,030 $604,400 $730,525 $907,900
    GREENSBORO-HIGH POINT, NC ROCKINGHAM 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC ROWAN 2023 $472,030 $604,400 $730,525 $907,900
    FOREST CITY, NC RUTHERFORD 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SAMPSON 2023 $472,030 $604,400 $730,525 $907,900
    LAURINBURG, NC SCOTLAND 2023 $472,030 $604,400 $730,525 $907,900
    ALBEMARLE, NC STANLY 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC STOKES 2023 $472,030 $604,400 $730,525 $907,900
    MOUNT AIRY, NC SURRY 2023 $472,030 $604,400 $730,525 $907,900
    CULLOWHEE, NC SWAIN 2023 $472,030 $604,400 $730,525 $907,900
    BREVARD, NC TRANSYLVANIA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO TYRRELL 2023 $472,030 $604,400 $730,525 $907,900
    CHARLOTTE-CONCORD-GASTONIA, NC-SC UNION 2023 $472,030 $604,400 $730,525 $907,900
    HENDERSON, NC VANCE 2023 $472,030 $604,400 $730,525 $907,900
    RALEIGH-CARY, NC WAKE 2023 $502,550 $643,350 $777,650 $966,450
    NON-METRO WARREN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    BOONE, NC WATAUGA 2023 $472,030 $604,400 $730,525 $907,900
    GOLDSBORO, NC WAYNE 2023 $472,030 $604,400 $730,525 $907,900
    NORTH WILKESBORO, NC WILKES 2023 $472,030 $604,400 $730,525 $907,900
    WILSON, NC WILSON 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC YADKIN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO YANCEY 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).