Though the FHA does not fund loans, the insurance it provides helps individuals and families who would have difficulty qualifying for loans because of lack of income and imperfect credit to find a loan that has both a low down payment and low interest rates.
Though closing costs may need to paid upfront, FHA insured loans give borrowers a better chance to receive fair loans and purchase homes when they would otherwise be unable to. Use this government program to your advantage. Apply for an FHA insured loan using our free short form and contact up to four lenders today.
Though a new millennium has come about, the FHA is still relevant and actively involved in the arena of home loans. Insuring several types of loans such as Energy Efficiency Mortgages and reverse mortgages, as well as special loans for officers and teachers, the FHA is an important resource to utilize when looking into finding a loan.
The Federal Housing Administration (FHA) was introduced into United States legislature by Franklin Roosevelts New Deal under the National Housing Act of 1934. Its purpose was to put into action a method of insuring homes loans, but the FHA also brought regulation of construction and housing conditions. Now a part of the Department of Housing and Urban Development, the FHA continues to aid Americans by providing insurance for home loans which allows first time buyers, low income families, and other potential buyers with less than ideal credit to qualify for low interest loans. Fill out our free short loan to find out if you qualify for a low interest FHA loan.