by Betty Gales
on Friday, April 11th, 2014 at 10:38am.
FHA is a great loan program for those with low down payments and/or lower FICO scores.
Minimum Investment for an FHA mortgage loan in Charleston, South Carolina is 3.5% down. You will need this plus any applicable closing costs. In many cases you can negotiate for the seller to pay your closing costs or at least a percentage of them-call us to learn more.
Minimum FICO Score: Typically you will need a 620 or higher FICO to get an FHA Mortgage Loan in Charleston, South Carolina. Some lenders may go lower, but by the time you jump through all the extra hoops and give your DNA samples, you would have been better off just repairing your credit over the 620 FICO because in addition to it being easier to qualify you will also be getting a much better rate on your Charleston, South Carolina FHA Mortgage Loan.
Maximum loan limit for your Charleston, South Carolina FHA Mortgage Loan is $308,200.
For additional information on Charleston, South Carolina FHA Mortgage Loans, call 866.FHA.1041 x707 to speak with our preferred lender- Maria Klima, Mortgage Banker, ENG Lending