At SouthState, we know buying a home can feel out of reach, especially if you don’t have a big down payment or a perfect credit score. That’s where FHA loans come in.
An FHA loan is backed by the Federal Housing Administration, which means lenders like us can offer accessible qualification requirements. With as little as 3.5% down and credit score options starting at 580, you might be closer to owning a home than you think.
FHA loans provide flexible income requirements and debt limits, and they allow you to use gift funds from family or down payment assistance programs to help cover costs. The trade-off is that you’ll pay mortgage insurance as part of your monthly payment, but for many buyers, the benefits outweigh the extra cost.
We’ve helped many customers across our footprint use FHA loans to buy their first-home, move into a bigger space, or start fresh in a new neighborhood. If you’re ready to see if this option is right for you, we’ll walk you through every step, from application to closing, so you feel confident in your decision.
Let’s talk about how we can get you into your first home! Contact us today to get started.
