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Welcome toFHA.name, your source for everything FHA.
The goal of FHA.name is to provide an accurate source of information to borrowers who arecurious about obtaining an FHA Mortgage.
The Federal Housing Administration, generally known as "FHA", is the largest government insurer of mortgages in the world, insuring over 35 million properties since its inception in 1934. A part of theUnited States Department of Housing and Urban Development (HUD), FHA provides mortgageinsurance on single-family, multifamily, manufactured homes and hospital loans made by FHA-approved lenders throughout the United States and its territories.
FHA Streamlined RefinanceFHA has permitted streamline refinances on insured mortgages since the early 1980's. The streamlinerefers only to the amount of documentation and underwriting that needs to be performed by the mortgagecompany, and does not mean that there are no costs involved in the transaction.FHA Mortgage Insurance
For the homebuyer, FHA-insured loans offer competitive rates, smaller downpayments, greaterflexibility in calculating household income and payment ratios, and protection requirements againstforeclosures. For lenders our mortgage insurance protects lenders against loss if the homeownerdefaults on his or her mortgage loan. While FHA insured-loans must meet certain requirementsestablished by FHA to qualify for the insurance, lenders bear less risk because FHA will pay thelender if a homeowner defaults on his or her loan.
Down Payment GiftsThe down payment can be 100% gift funds. This is one of the key benefits to the FHA program.Bankruptcy and ForeclosureA credit report will be obtained on the borrower and any lates, collections, judgments, foreclosures, bankruptcies, etc. must have a justifiable explanation in writing by the borrower.Refunds Ready of FHA LoansIf you have ever paid off a home loan backed by FHA, you may have money owed to you. And thegovernment wants to pay you back.Single Family Mortgage InsuranceFHA's mortgage insurance programs help low- and moderate-income families become homeowners bylowering some of the costs of their mortgage loans.Single Family Rehab Mortgage ProgramSection 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage?or to finance therehabilitation of their existing home.Property Improvement Loan Insurance (Title I)The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable homeimprovement loans by insuring loans made by private lenders to improve properties that meet certain
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