Fha Loan In Nc
What is an FHA Loan? An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA). They are popular especially among first time home buyers because they allow down payments of 3.5% for credit scores of 580+. However, borrowers must pay mortgage insurance premiums, which protects the lender if a borrower defaults.
North Carolina Amends Anti-Predatory Lending Law – With the passage of senate bill 692, which became effective Oct. 1, 2013, the North Carolina High-Cost. to the amount of up-front mortgage insurance premiums collected and paid to the Federal.