The Federal Housing Administration (FHA) was created out of the National Housing Act of 1934 and was established to increase home ownership and provide affordable housing opportunities for all Americans coming out of the Great Depression.
While most people believe that the FHA lends money directly to borrowers, it actually just insures the mortgage financed by FHA-approved lenders.
FHA loans are one of the easiest mortgage loans to qualify for due to the flexible credit guidelines and the low-down payment requirements. A borrower who cannot afford a traditional down payment of 5% or has gone through a financial hardship like a short sale, foreclosure or bankruptcy can benefit the most from the FHA program.
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The Turnkey Foundation Inc. DBA FOCUS HOME LENDING | 866.639.6554 | Restrictions may apply. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice. Not intended to solicit buyers or sellers currently under contract with a brokerage. Whole or partial reproduction is forbidden without written permission from the publisher. Equal Housing Lender. NMLS# 236669 | DRE# 01845041
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