FHA Programs
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- Published on Monday, 31 May 2010 20:34
What Is A FHA Loan?
The 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.
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- Published on Monday, 31 May 2010 17:03
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 and is often homebuyers best chance at getting a loan.
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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