FHA Programs

What Is An FHA Loan?

Find out what a FHA home loan is all aboutThe Department of Housing and Urban Development (HUD) was created in 1965. HUD over sees the Federal Housing Administration, recognized commonly as FHA.

The FHA's duty is to administer government loans and to set the FHA loan requirements for the government loan guarantee program.

Many first time home buyer's ask, What is an FHA Loan?, without ever getting a clear concise answer, we'll give that to you here. The main purpose of FHA is to allow buyer's who do not qualify for conventional or "A" loans an opportunity for home ownership.

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FHA 203b Mortgage Loan

The section 203b mortgage loan provides FHA insurance to help lenders protect against the risk of default on mortgages to qualified borrowers.

Insured mortgages may be used to finance the purchase of new, existing or construction of a 1-4 family owner occupied dwelling, as well as to refinance with or without cash-out (cash-out is limited to an LTV of 85 percent).

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More Articles...

  1. FHA 203k Mortgage Loan
  2. FHA Streamlined Refinance
  3. FHA 203h Mortgage Loan
  4. FHA Advantages
  5. FHA 245 Mortgage Loan
  6. FHA 255 Mortgage Loan
  7. FHA 251 Mortgage Loan
  8. FHA 234c Mortgage Loan
  9. What is the FHA Short Refinance Option?
  10. FHA Guidelines for Condos
  11. Current FHA Guidelines
  12. What is FHA Mortgage Insurance?
  13. FHA Loans
  14. FHA Second Lien Program
  15. FHA Refinance for Borrowers with Negative Equity
  16. FHA Streamline
  17. Can I Buy a House?
  18. FHA vs. Conventional Loans
  19. FHA Mortgage Insurance

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