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OTHER PROGRAMS

FHA LOANS

FHA mortgages are insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers; rather, it provides protection through mortgage insurance (MIP) against losses as the result of homeowners defaulting on their mortgage loan. It’s this protection that makes it possible for mortgage lenders to provide insured FHA home loans to South Carolina homeowners.

Available to all South Carolina residents, FHA loan programs are primarily designed to help low- and moderate-income families who do not meet requirements for conventional loans that adhere to more strict underwriting guidelines. However, there are cases in which borrowers who are eligible for conventional financing would still choose a FHA home loan over a conventional mortgage.

FHA home loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than most conventional loans. The FHA mortgage program has been helping people become homeowners since 1934 and is easier to qualify for an FHA loan in many cases.

Call today or apply online below to find out if an FHA home loan is right for you.

SERVICE AREAS

Quick Facts

  • Ballentine
  • Batesburg-Leesville
  • Blythewood
  • Camden
  • Cayce
  • Chapin
  • Columbia
  • Eastover
  • Elgin
  • Forest Acres
  • ​Gadsden
  • Gaston
  • Gilbert
  • ​Hopkins
  • Irmo
  • Lake Murray
  • Lexington
  • ​Myrtle Beach
  • Newberry
  • Peak
  • Pelion
  • ​Pine Ridge
  • Pomaria
  • Prosperity
  • ​Salley
  • South Congaree
  • Springdale
  • ​Spring Valley
  • Summit
  • Swansea
  • Wagner
  • West Columbia
  • Simple Qualifying
  • Only 3.5% Down Payment Required
  • 100% Allowed with Approved Gift Fund Source
  • Seller Paid Closing Costs to 6%
  • More Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Minimum Credit Scores
  • No Prepayment Penalties
  • Streamline Refinance Available
  • Manufactured Housing OK (Subject to Restrictions)

​SIMPLIFIED MORTGAGE SOLUTIONS, LLC