South Carolina  FHA Mortgage Lenders  –  Requirements and Loan Information

South Carolina FHA mortgage applicants who need a small down payment or have less than perfect credit scores may be able to purchase a home with an South Carolina FHA mortgage loan. There are many South Carolina FHA mortgage lenders, but not all of them participate and or provide all the FHA loan options available.

We will take you through the South Carolina FHA mortgage lenders requirements, detail what is needed to qualify, then help you to get pre-qualified. If you are in South Carolina and already know that FHA mortgage lenders can provide the best option then click the apply now in the top right!
South Carolina FHA Mortgage Down Payment Requirements

The down payment requirements for an FHA loan is the same in all state. The minimum requirement for an FHA loan is 3.5% of the purchase price. However, if your credit score is below 580, perhaps as low as 500+ then the down payment requirement will be 10% of the sales price. The downpayment can come from

Do FHA Mortgage Lenders Allow Gift of Down payment To come from Friends or Employer?

Do FHA Mortgage Lenders Allow Gift of Down payment To come from Friends? FHA mortgage lenders refer to gifts or contributions of cash or equity with no expectation of repayment.  Gifts may be provided by:   • a close friend with a clearly defined and documented interest in the Borrower;  • the Borrower’s Family Member;  •…

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Do FHA Mortgage Lenders allow employers gift the borrower’s down payment?

Do FHA Mortgage Lenders allow employers gift the FHA mortgage applicants down payment?   Employer Assistance refers to benefits provided by an employer to relocate the FHA mortgage applicants or assist in the FHA mortgage applicants housing purchase, including closing costs, Mortgage Insurance Premiums (MIP), or any portion of the FHA mortgage applicants Minimum Required…

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Do FHA mortgage Lenders allow realtors to  give a gift of their commission for the down payment?

Do FHA mortgage Lenders allow realtors to  give a gift of their commission for the down payment? Can A Realtors real estate Commission from Sale of Subject Property refers to the Borrower’s down payment  portion of a real estate commission earned from the sale of the property being purchased.  FHA mortgage lenders may consider Real…

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Do FHA Mortgage Lenders Allow Gifts for Down Payment And Closing Cost?

Do FHA Mortgage Lenders Allow Gifts for Down Payment And Closing Cost? FHA Mortgage Lenders refer to Gifts as contributions of cash or equity with no expectation of repayment.     FHA Mortgage Lenders Allow Gift Funds from the following approved sources • The  FHA mortgage applicants Family Member;  • The  FHA mortgage applicants employer or labor…

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