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Below are our top picks for the best FHA lenders in North Carolina:

1.) Quicken Loans

2.) Guaranteed Rate

3.) NC FHA Expert

4.) Allegacy Credit Union

5.) Raleigh Mortgage Group

6.) Carolina Home Mortgage

7.) Capital South Funding

Are FHA loans only for first time home buyers?
No, FHA loans are not restricted to first time home buyers. If you have owned a home before, you may still get a FHA loan. However, you may only have one FHA loan and they are only available for primary residences.

Is down payment assistance available for FHA loans?
Yes, if you qualify for down payment assistance, you can be used with a FHA loan.  There are many programs available that provide funds to use for down payment assistance.  We can help you find out if you qualify for any of them.

What are the options to refinance a FHA loan?
The FHA offers two different programs for refinancing a FHA loan. This includes the FHA streamline refinance, which allows you to easily lower your interest rate and mortgage payment (and does not require a credit check, income documentation, or a new appraisal). The other option for refinancing an existing FHA loan, is the FHA cash out refinance, which allows you to pull out money from the equity in your home.

Are cosigners allowed on FHA loans?
Yes, cosigners are allowed on FHA loans. At least one of the borrowers must occupy the property. Non-occupying co-borrowers are allowed though, which means the person cosigning does not need to live at the property that is financed using a FHA loan.

How long after a bankruptcy can you get a FHA loan?
The FHA rules state that you must wait at least 2 years after filing a chapter 7 bankruptcy. For a chapter 13, you only need to wait until you have successfully made 12 months of payments. Additionally, you will need to provide the court trustee’s written approval. Also, keep in mind that the clock doesn’t start upon filing, but rather once the bankruptcy has been discharged.

How long after a foreclosure can you get a FHA loan?
The FHA rules state that you must wait at least 3 years before you are eligible for a FHA loan. However, there is an exception to this rule if there were “extenuating circumstances”, such as a job loss. You would also have to show some improvements to your credit since the foreclosure. In the event that the circumstances and credit improvements are satisfactory, you would only have to wait until after 1 year before you can apply for a FHA loan.