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 The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created.
The FHA does not create the loans; funds come from lenders. The FHA insures loans so that lenders can offer mortgage assistance to people who:
- Have fair or poor credit
- Have a low down payment (must have at least 3.5%)
- Have undergone bankruptcy
- Have been foreclosed on
Contact us for more details for an FHA loan on your next home.
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