FHA Home Loan
Lower credit? Get the financing you need.
FHA loans are an attractive option for home buyers with a few bumps in their financial history. If you have a credit score over 500 and can afford a minimum of 3.5% down payment, an FHA loan could be right for you.
Qualification Requirements
Minimum 500 Credit Score
SouthFork requires a minimum credit score of 500 for FHA loans.
Minimum 3.5% Down
You’ll need to make a down payment of at least 3.5% of your new home’s purchase price.
Up to 6% In Closing Costs
Sellers concession financed up to 6 percent of purchase price
Not sure if you qualify? Use our calculator below to give you an idea of your mortgage numbers
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Get preapproved now.
An FHA loan from SouthFork Funding can get you the financing you need - for the house you love.
Why FHA Loans?
FHA Loans are backed and insured by the Federal Housing Administration. FHA loans are not only for first time homebuyers rather they are good for just about anyone. This type of loan is perfect for those who do not have a lot of cash in the bank for reserves. FHA loans can also be a great option for those that are recovering from credit issues like a foreclosure or bankruptcy on record.
FHA Advantages Include:
Lower minimum credit score
Lower down-payment options available with assistance for those who qualify
FHA Loans are assumable
Less restrictions & shorter period of time after financial hardships
Non-occupant co-borrower to help qualify for the loan
Finance up to 6 percent of your closing cost
Get preapproved now.
An FHA loan from SouthFork Funding can get you the financing you need - for the house you love.