The programs are designed to help buyers with more moderate incomes into home ownership.  The qualifying standards are less stringent than conventional loans.  The required down payment is typically lower than most conventional loans, and in some cases the closing costs may be financed with the loan.

Each county has a maximum FHA loan amount, that is determined by the median cost of housing in the county.  Click Here to see the current limits for counties in South Carolina.

Is It For You?
FHA is the original first time buyer program, and still one of the best.  If there are some "blemishes" on your credit report you may be excluded from many of the other high LTV programs, but with FHA you still may have a chance.  If you will be receiving a gift for all or a portion of your down payment,  or if you strapped for cash and need help with your closing cost or prepaid items FHA is probably a good choice for you.