FHA is the program that turns a maybe into a yes for a lot of Midlands buyers. It accepts a smaller down payment than conventional financing and it takes a more realistic view of credit histories that have had a rough patch.
Talk to a Loan OfficerIt is not free — mortgage insurance is the trade — which is exactly why we compare it side by side with conventional rather than assuming either one wins.
The three things that matter most here.
Buyers whose savings or credit make conventional financing awkward, and anyone whose down payment is coming largely from a gift. Owner-occupied only.
Mortgage insurance, both upfront and annual, on most loans for the life of the loan. A property that meets FHA condition standards. And loan limits that vary by county.
When credit is the constraint rather than income. FHA's guidelines are written for real credit histories, and a past problem does not end the conversation.
Straight answers, no sales language.
Materially less than standard conventional financing. The exact minimum depends on your file, and the funds can come from an eligible gift.
FHA has defined waiting periods after major credit events rather than a permanent bar. Where you sit in those periods is the first thing we would check.
Yes, set by county and adjusted annually. Lexington and Richland counties have their own figures, and we will confirm the current one for your area.
It genuinely depends on your credit, your down payment and how long you plan to keep the loan. We run both and show you the comparison.
A conversation costs nothing and carries no obligation. Tell us your situation and we will tell you plainly what your options are.
Start the ConversationOr call 843-998-5045