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Resources > Glossary > FHA Loan

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

FHA Loan

Function: noun

Definition 1:
A loan insured by the Federal Housing Administration available to all qualified home purchasers. While there are limits to the size of FHA loans, they are generous enough to handle moderate-priced homes in most parts of the country. FHA loans may only be issued by federally qualified lenders. FHA loans started during a program in the great depression. FHA loans have historically offered lower income Americans the opportunity to get a loan that they would otherwise not be able to qualify for. Currently, FHA loans are for those who can not afford a conventional down payment or who don't qualify for PMI. A FHA loan is also known as a Federal Assistance Loan. Please see www.fha.com for more information about FHA loans.

Thesaurus / Related Terms
Federal Housing Administration
FHA Mortgage