Info
You are currently browsing the Real Estate Blog weblog archives for the day May 08, 2010.
Categories
- Buying (11)
- Home Improvement (1)
- Market Data (9)
- Mortgage (3)
- Selling (9)
- Short Sale (7)
- Tax and Financial info (3)
- Uncategorized (2)
Latest Postings
- Mar 16, 2012: Foreclosure Myths
- Feb 17, 2012: Property tax bills fall for midvalley residents
- May 09, 2011: Short Sale Process is Improving
- Feb 17, 2011: Home sales rebounded in 49 states in Q4, and 78 markets had price gains over last year
- Dec 23, 2010: HAFA Sneakiness
- Aug 26, 2010: What to do When You are Upside-down
- Aug 16, 2010: Homeownership, Stable Communities Linked
- Aug 16, 2010: Bathroom Remodels Becoming More Popular
- Jul 21, 2010: Tips for Deciphering Your Home Loan Good-faith Estimate
- Jun 16, 2010: Short Sale of Investment Property?
Links
Archives
Archive for May 08, 2010
What is an FHA loan?
May 08, 2010 by MichaelS.Dunn.
- Have fair or poor credit
- Have a low down payment (must have at least 3.5%)
- Have undergone bankruptcy
- Have been foreclosed on
Essentially, the federal government insures loans for FHA-approved lenders so that lenders reduce their risk of loss if they lend to borrowers who could default on their mortgage payments. The FHA program has been in place since the 1930s to help stimulate the housing market by making loans accessible and affordable. Traditionally, FHA loans have helped military families who return from war, the elderly, handicapped, or lower-income families, but really, anyone can get an FHA loan - they are not just for first-time home buyers.
Posted in Buying, Mortgage | Print | No Comments »
|