Resources > Glossary > FHA Loan
Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.
0-9 A B C D E [F] G H I J K L M N O P Q R S T U V W X Y Z Common Terms 1 Common Terms 2
FHA LoanFunction: 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
|