FHA Loans - Federally Insured Mortgage Loans
Home Loans for Lower Income Applicants
FHA loans are mortgage programs which are regulated and insured by the Federal Housing Administration in the United States.
FHA loans typically enable Americans with lower income to purchase a home that they ordinarily may not be able to get financing for. The FHA program was designed to offer financing companies insurance so they would be willing to lend to a "riskier" applicant. The Purpose of FHA
Originally, the FHA's primary purpose was to insure loans granted by lending institutions. Since then, PMI (Private
Mortgage Insurance) companies have become a key part to home lending, and FHA loans are now usually sought by people who
can't afford a conventional home loan's down payment requirements or for some reason do not qualify for PMI.
Some main characteristics of FHA loans are:
It often allows you to buy a house with little or no down payment It is a good option for first time buyers or other people with little cash in the bank FHA does not loan money or purchase homes; it insures home loans granted by banks and lending institutionsSome basic factors which are considered when you apply for an FHA loan are:
Whether you have sufficient income to pay your mortgage payment If you have a decent credit history If the house you are looking at meets certain inspection guidelines |
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Loan Related Calculators

See Also
National Financer Provides FHA Loan Quotes in all 50 States:
- Alabama FHA Loans
- Alaska FHA Loans
- Arizona FHA Loans
- Arkansas FHA Loans
- California FHA Loans
- Colorado FHA Loans
- Connecticut FHA Loans
- Delaware FHA Loans
- Florida FHA Loans
- Georgia FHA Loans
- Idaho FHA Loans
- Illinois FHA Loans
- Indiana FHA Loans
- Iowa FHA Loans
- Kansas FHA Loans
- Louisiana FHA Loans
- Maine FHA Loans
- Maryland FHA Loans
- Massachusetts FHA Loans
- Michigan FHA Loans
- Minnesota FHA Loans
- Mississippi FHA Loans
- Missouri FHA Loans
- Montana FHA Loans
- Nebraska FHA Loans
- Nevada FHA Loans
- New Hampshire FHA Loans
- New Jersey FHA Loans
- New Mexico FHA Loans
- New York FHA Loans
- North Carolina FHA Loans
- North Dakota FHA Loans
- Ohio FHA Loans
- Oklahoma FHA Loans
- Oregon FHA Loans
- Pennsylvania FHA Loans
- Rhode Island FHA Loans
- South Carolina FHA Loans
- South Dakota FHA Loans
- Tennessee FHA Loans
- Texas FHA Loans
- Utah FHA Loans
- Vermont FHA Loans
- Virginia FHA Loans
- Washington FHA Loans
- West Virginia FHA Loans
- Wisconsin FHA Loans
- Wyoming FHA Loans
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It often allows you to buy a house with little or no down payment
