SKIP TO MAIN CONTENT
Logo
  • Get Started
    • Apply Now
    • Download Mobile App
    • Free Consultation
    • Mortgage Rates
  • Find a Loan Officer
    • Contact Us
    • Bryan R Hoots
    • Carson Eaves
    • Chris Hopkins
    • Chris Tilley
    • Clinton Cowell
    • Debbie Brooks Wilhelm
    • Heather Tucker
    • Jeff Trout
    • Luis La Jara
    • Martha E Hughes
    • Mike Prickett
  • Mortgage 101
    • Mortgage Purchase
      • Homebuyer Dos and Donts
      • Renting vs Buying
    • Mortgage Refinance
      • Reasons to Refinance
      • Net Benefit
      • HELOC or Cash Out
    • Appraisal Basics
      • Appraised Value
      • Myths About Home Values
      • Comparable Sales
      • Value of New Construction
    • Mortgage Loan Programs
      • Fixed Rate Mortgage
      • Adjustable Rate Mortgage
      • Construction Loan
      • Jumbo Mortgage
      • FHA Mortgage
      • VA Mortgage
      • USDA Mortgage
      • Affordable Housing
    • Mortgage Toolbox
      • Closing Process
      • Credit
      • Earnest Money Deposit
      • Fannie and Freddie
      • Items Needed
      • Mortgage Approval Process
      • Mortgage Glossary
      • Title Insurance
    • Mortgage Calculators
      • Payment Amortization
      • Rent vs Own
      • Annual Percentage Rate
      • Debt Consolidation
      • Prepayment Savings
      • Early Payoff
      • Refinance Break Even
      • Tax Savings
  • About Us
  • Uwharrie Bank
    • Personal
    • Business
    • Wealth Management
    • Home Loans
  • Log In

FHA Mortgage


Talk to a Mortgage Loan Officer

An FHA loan may be a good option for first-time homebuyers. For qualified buyers there is a lower down payment option and potentially a lower interest rate than other types of loans. You may be able to finance up to 96.5% of your home loan purchase. This loan provides you with a fixed payment and fixed interest rate. You can also choose an Adjustable Rate Mortgage (ARM) option that will give you a lower starting rate, but will adjust after an initial term and then annually thereafter. Contact us today to see if a government-insured FHA loan is the right option for you.

 

First-Time Homebuyers

An FHA loan is a great option for first-time homebuyers as the income and credit requirements are typically less rigorous than a conventional mortgage. Borrowers purchasing their first homes are generally younger and may have student loan and other debts to contend with. This makes the FHA loan's low down payment requirement ideal. When it's time to close, Sellers are permitted to cover up to 6% of closing costs, which could mean less out-of-pocket expenses for new homeowners that might not have additional funds.

 

Streamlined Refinancing

Considering refinancing? If you're a current FHA borrower, the FHA Streamline Refinance program is a great choice for you. With its limited documentation requirements and the opportunity to refinance without the cost of an appraisal, it's a great option for lowering your interest rate or cashing in on your home's equity.

 

Why Choose a FHA Mortgage?

-Loan down payments

-Finance up to 96.5% on some loans

-Sellers can contribute up to 6% of the purchase price

-Can finance up to $472,030 (varies by county)

-Fixed rate and ARM options available

 

Normal credit and underwriting approval is required. Monthly Mortgage Insurance (MIP) and upfront Mortgage Insurance Premiums apply.


Talk to a Mortgage Loan Officer

Related Articles:

Mortgage Toolbox

2 MINUTE READ

Mortgage Toolbox Homepage and Mortgage FAQ's!

Read More...

Credit Do's and Don'ts to Keep in Mind

2 MINUTE READ

We use a debt monitoring service that notifies us when you have applied for credit after the time of your initial loan application. We monitor this up until the day of closing. We do this because...

Read More...

Where Does My Earnest Money Go?

2 MINUTE READ

Hey, I gave my Realtor a $5,000 earnest money deposit check...Where does that money go?

This is a basic and very obvious question that most first-time homebuyers ask once their...

Read More...


Who are Fannie and Freddie?

2 MINUTE READ

Most lenders would consider a conventional mortgage as a loan that conforms to the guidelines set forth by Freddie Mac and Fannie Mae, the two government sponsored enterprises (GSEs)...

Read More...

Jumbo Mortgage

A jumbo mortgage is a home loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac.

VA Mortgage

Insured by the Department of Veteran Affairs, this program is for qualified veterans and military families.


USDA Mortgage

A loan offered by the U.S. Department of Agriculture, featuring 100 percent financing for qualified homebuyers.

Affordable Housing

Uwharrie Bank is committed to helping customers in our community achieve successful homeownership. We have many programs designed to provide solutions to first time homebuyers, including many affordable housing options.

Select the edit icon to link or upload an image

  • Privacy Policy

NMLS# 447110    |    FAIR LENDER    |    FAIR HOUSING    |    Member FDIC

141 Providence Rd, Charlotte, NC  28207

704-991-2828  |  mortgage@uwharrie.com

NMLS# 447110    |    FAIR LENDER    |    FAIR HOUSING    |    Member FDIC