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Loan program

FHA Loans

Backed by the Federal Housing Administration, FHA loans are one of the most accessible paths to homeownership — especially for first-time buyers, buyers rebuilding credit, or anyone who needs a little more flexibility than conventional financing allows.

Who it's great for

First-time buyers, buyers with credit scores in the 580–680 range, and anyone with a higher debt-to-income ratio. FHA's flexible underwriting makes it a strong option when conventional doesn't quite fit.

Down payment

As little as 3.5% down with a credit score of 580 or higher. Gift funds from family are fully allowed, and down payment assistance programs pair well with FHA in North Carolina.

Credit requirements

Minimum 580 FICO for 3.5% down, or 500–579 with 10% down (lender overlays may apply). FHA is often the right call when your credit is still healing.

Mortgage insurance

FHA loans require both an upfront mortgage insurance premium (UFMIP, typically 1.75% of the loan, financed in) and a monthly MIP for the life of the loan on most terms. It's the trade-off for the flexibility — and it's worth doing the math against conventional.

Loan limits in North Carolina

FHA sets county-by-county limits. Most NC counties follow the standard floor, with higher limits in a few metro areas. I'll confirm the exact limit for your county at application.

Key advantages

  • Low 3.5% down payment
  • Flexible credit requirements
  • Higher DTI allowances than conventional
  • Assumable — a future buyer can take over your rate
  • Down payment assistance friendly

Worth knowing

FHA is a fantastic entry point, but MIP for the life of the loan means many borrowers refinance into a conventional loan once they have 20% equity. I'll build that plan with you from day one.

Want to see what you'd qualify for?

A 15-minute call — no credit pull, no pressure. We'll talk through your goals and run the numbers.

Start a conversation →

Information is for educational purposes only and not a commitment to lend. All loans are subject to credit approval, income and asset verification, and program guidelines in effect at the time of application. Samuel Johnson · NMLS #2701087 · NC License I-235513. Sponsored by Live Moore Lending, LLC · Company NMLS #2319611. Equal Housing Opportunity Lender.