Definitions of FHA Loan
- A mortgage issued by federally qualified lenders and insured by the Federal Housing Administration. FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment. Typically they require a 3% down payment which can come from almost anyplace. This definition of FHA Loan contributed by James Boyer.
- The Federal Housing Administration (FHA), which is part of the U.S. Dept. of Housing and Urban Development (HUD), administers various mortgage loan programs. FHA loans have lower down payment requirements and are easier to qualify than conventional loans. FHA loans cannot exceed the statutory limit
© Copyright 2004-2007, Real Estate Webmasters - Professional Real Estate Web Design Feeds / Sitemaps: - Forum RSS, Blogs Sitemap