FHA Loan


FHA Loan
A mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment. FHA loans allow the borrower to borrow up to 97% of the value of the home. The 3% down payment requirement can come from a gift or a grant, which makes FHA loans popular with first-time buyers.

In addition to traditional first mortgages, the Federal Housing Administration offers a reverse mortgage program known as a Home Equity Conversion Mortgage (HECM), which helps seniors convert the equity in their homes to cash while retaining the titles to their homes.


Investment dictionary. . 2012.

Look at other dictionaries:

  • FHA loan — is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration. The loan may be issued by federally qualified lenders.FHA loans have historically allowed lower income Americans to borrow money for the… …   Wikipedia

  • FHA-Secure — is a Federal Housing Administration refinancing program to help borrowers avoid foreclosure. It is similar to other FHA loan. [ [http://www.hud.gov/news/release.cfm?content=pr07 123.cfm HUD News Release 07 123 ] ] ReferencesWHAT IS… …   Wikipedia

  • FHA — may mean:* Federal Housing Administration. See also FHA loan. * Civil Rights Act of 1968 In particular, Title VIII of the Act, also known as the Fair Housing Act * Forced Hot Air heating * Future Homemakers of America * Functional hazard analysis …   Wikipedia

  • Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… …   Wikipedia

  • FHA 203(k) Loan — A type of federally insured mortgage product for individuals who want to rehabilitate or repair a damaged home that will become their primary residence. In addition to the funds to cover the purchase price of the house, the FHA 203(k) loan… …   Investment dictionary

  • FHA experience — A statistical publication of the FHA that shows the proportion of FHA insured and VA mortgage loans that terminate each year. Mortgage loan mortality tables. American Banker Glossary …   Financial and business terms

  • Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets …   Wikipedia

  • Spot Loan — A spot loan is a type of mortgage loan made for a borrower to purchase a single unit in a multi unit building, such as a condo complex. Lenders sometimes require that they approve the entire building in order to approve a loan for an unit within… …   Investment dictionary

  • VA loan — A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs. The loan may be issued by qualified lenders. The VA loan was designed to offer long term financing to American veterans or their surviving… …   Wikipedia

  • Federal Housing Administration - FHA — A United States government agency that provides mortgage insurance to qualified, FHA approved lenders. FHA mortgage insurance helps protect lenders from losses associated with mortgage default; if a borrower defaults on a loan, the FHA will pay a …   Investment dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.