FHA Loans Wilmington NC

FHA home loans are designed for low-to-moderate income borrowers who are unable to make a large down payment. These loans allow the borrower to borrow up to 96.5 percent of the value of the home. The 3.5 percent down payment requirement can come from a gift or a grant, which makes FHA home loans popular with first-time homebuyers. FHA loans do have a loan limit that varies by county and does change from time to time. It is currently set at $420,680 for most Southeastern NC counties.

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