• What is an FHA Loan
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What is an FHA Loan?

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FHA home mortgage loans are popular due to their lower down payment requirements and less stringent lending requirements when compared to conventional loans.

The Federal Housing Administration, generally known as “FHA”, was established in 1934 to improve the construction and financing of housing. A part of the United States Department of Housing and Urban Development (HUD), FHA provides mortgage insurance on single-family, multifamily and manufactured homes throughout the United States. Since FHA loans are backed by the government, lenders are protected against defaults making it possible for them to offer borrowers:
  • Lower Down Payments
  • Ability to Qualify with Below Average Credit
  • Low Interest Rates

The FHA loan program was created to combat a rash of loan defaults or foreclosures in the 1930’s.  By providing mortgage lenders with insurance to help cover losses the FHA was able to stimulate the housing markets by enabling lenders to write loans with less liability.

What is an FHA Home Mortgage Loan?

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Credit Score Requirements for FHA Loans

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