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Federal Housing Administration (FHA)
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Federal Housing Administration (FHA) - An agency of the U.S. Department of Housing and Urban Development (HUD). They mainly insure residential mortgage loans made by private lenders. They also set the standards for construction and underwriting but do not plan or construct housing nor lend money.The Federal Housing Authority insures loans mainly intended for first time home buyers. However, you need not be a first time buyer to qualify for an FHA loan. Some of the key benefits of FHA financing are relaxed credit scoring criteria, low downpayment options, and allowances made for gifts to be used for downpayment funds.
Federal Housing Administration Fha in the News:
| NAR Urges Congress, Administration to Approach Changing FHA Slowly (Marketwire via Yahoo! Finance) |
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WASHINGTON, DC--(Marketwire - 03/11/10) - The National Association of Realtors urged Congress and the administration to move cautiously before making changes to the Federal Housing Administration program that has served the needs of millions of American families for more than 75 years without needing a federal appropriation. FHA remains financially strong because it has taken steps to ensure ...
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| NAR Urges Congress, Administration to Approach Changing FHA Slowly (Banker & Tradesman) |
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The National Association of Realtors urged Congress and the administration to move cautiously before making changes to the Federal Housing Administration program that has served the needs of millions of American families for more than 75 years without needing a federal appropriation.
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| FHA waives rule against house flipping (Bankrate.com) |
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Homebuyers who need a loan insured by the Federal Housing Administration, or FHA, may be able to buy a recent foreclosure house now that the FHA has waived its so-called "anti-flipping" rule.
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| FHA challenged on projected risk to taxpayers (Washington Post) |
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The Federal Housing Administration will need taxpayer money because it failed to properly project how borrowers with FHA-backed loans are affected by job losses and diminished equity in their homes, New York University professor Andrew Caplin told a House panel Thursday.
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| The Real Estate Wonk: Change brewing on FHA loans (Baltimore Sun) |
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What's the difference between 3.5 percent down payments and 5 percent down payments? More than 300,000 home sales, the head of the Federal Housing Administration is telling Congress.
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