What is an FHA loan?

it\'s a loan where the Federal government insures the loan against default.. If you get an FHA loan and you stop paying and the lender has to foreclose, their loss will be reimbursed by the federal government (less a deductible).. FHA offers financing with 3.5% down, however you as the borrower pays the insurance premium monthly and it\'s added to your principal and interest payment.. here\'s the Wiki definition for your review..http://en.wikipedia.org/wiki/FHA_insured_loan .. I’m a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

An FHA loan is a loan which is insured and backed by the Federal Housing Administration and has been put in place to help borrowers with little down payment and not such great credit to buy their homes.

An FHA loan is insured by the federal government. This mitigates the risk to lenders and therefore gives them the ability to loan to those who qualify for an FHA loan with less strict lending standards. For example, instead of the usual 20% down payment, an FHA loan only requires a 3.5% down payment, making this a very attractive options for those who do not have a large amount in savings or live in high prices areas. Lenders are also more lenient in terms of the borrower's income and how much other debt they already carry. The downside to an FHA loan however, is that the borrower must purchase mortgage insurance which is added to their monthly payment. It is best to discuss your individual situation with a mortgage banker and decide what your best option is. I am a mortgage banker in San Diego and am licensed to lend anywhere in California. If you have any questions or would like to discuss your options, please email me at adrielle@californiamortgagedirect.com and we can set up a time to talk on the phone.

The Federal Housing Administration, generally known as "FHA", that falls under the purview Housing and Urban Development "HUD" , provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world.FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner's default. Loans must meet certain requirements established by FHA to qualify for insurance. Unlike conventional loans that adhere to strict underwriting guidelines, FHA-insured loans require very little cash investment to close a loan. There is more flexibility in calculating household income and payment ratios. The cost of the mortgage insurance is passed along to the homeowner and typically is included in the monthly payment.

FHA loans - are mortgage loans backed up with a little bit of insurance from the government to help mitigate any loss a lender may suffer if you default on the loan. because of this, lenders are a little more willing to offer loans to more marginal clients, and allow a smaller down payment than many other loans. www.JoeMetzler.com/fhaloans.htm

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory All of your questions answered at the click of a button. Feel free to reach me if you have any other questions.

Best choice for first-time homeowners with little down payment.

An FHA loan is a loan which is insured and backed by the Federal Housing Administration and has been put in place to help borrowers with little down payment and not such great credit to buy their homes.

Federal Housing Administration or HUD - to read more about it - http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory

William\'s answer is spot on.

A government loan backed by HUD.

An FHA loan is a loan that is backed by the Federal Housing Administration (FHA). Since it backed by the FHA, which protects lenders if a borrower were to default, lenders are able to offer loans to borrowers with poorer credit scores and smaller down payments. It is often referred to a the first-time home buyer loan, because it is a popular program for many first-time homeowners. With an FHA loan the borrower can put as little as 3.5% down. We are licensed in California and offer FHA loans, feel free to contact us directly if you would like to chat about the program in more detail!

An FHA loan is a loan that is backed by the Federal Housing Administration (FHA). Since it backed by the FHA, which protects lenders if a borrower were to default, lenders are able to offer loans to borrowers with poorer credit scores and smaller down payments. It is often referred to a the first-time home buyer loan, because it is a popular program for many first-time homeowners. With an FHA loan the borrower can put as little as 3.5% down. We are licensed in California and offer FHA loans, feel free to contact us directly if you would like to chat about the program in more detail!

An FHA loan is a loan that is insured by the Federal Housing Administration. Since the FHA guarantees to pay the balance in the event of a loan defaulting, rather than the lender having to write it off, FHA loans are open to people with poor credit history or to those who are unable to make large down payments. A FHA Loan can help you acquire a home with as little as 3.5%, instead of the high percentages required to obtain a typical conventional loan. This allows a great advantage for first time home buyers or anyone who wants smaller down payments to buy a home.If you are looking for FHA Mortgage Rates Lender411 can help by reaching out to reputable lenders in your area by filling out Lender411's Find a Lender.

FHA loans - are mortgage loans backed up with a little bit of insurance from the government to help mitigate any loss a lender may suffer if you default on the loan. because of this, lenders are a little more willing to offer loans to more marginal clients, and allow a smaller down payment than many other loans. www.JoeMetzler.com/fhaloans.htm

FHA loans - are mortgage loans backed up with a little bit of insurance from the government to help mitigate any loss a lender may suffer if you default on the loan. because of this, lenders are a little more willing to offer loans to more marginal clients, and allow a smaller down payment than many other loans. www.JoeMetzler.com/fhaloans.htm