An FHA loan is a mortgage loan that is guaranteed by the Federal Housing Authority, a government agency in the US Department of Housing and Urban Development. The FHA insures the loans to reduce the amount of risk private lenders assume in issuing the loans. The goal of the Federal Housing…
So you’re thinking to apply for FHA loan in order to finance your eventual home purchase. One option is offered by the Federal Housing Administration (FHA) which provides low and moderate-income households with federally backed and insured financing, providing a level of security and service these families may not be able to…
Recognize that if you are looking to acquire an FHA loan, unlike qualifying for a VA loan (which requires certain levels of military service and veteran status), many other non-military households can still be eligible for the government-backed FHA mortgage. Even then, the Federal Housing Administration does apply a number of…
Who is Eligible for FHA Loans? FHA mortgage loans are beneficial to home-buyers because it requires less upfront cash investment need to close on a home, and is also insured by the Federal Housing Administration (FHA) against loss if a borrow defaults. The FHA allows home buyers to secure their mortgage…
If you are hoping to renovate or remodel your home, the FHA Streamline 203(k) can be a fast and easy way to acquire these essential funds. The FHA 203K Streamline program lets you include remodeling funds with your original mortgage balance. These additional funds may be applied to simple repairs that…
