Federal Housing Administration
What is Federal Housing Administration?
Federal Housing Administration, generally known as FHA, is a division of Department of Housing and Urban Development that provides mortgage insurance on loans originated by FHA-approved lenders.
What It Means
FHA, through mortgage insurance programs, seeks to fulfill its mission of promoting affordable homeownership for all. It insures mortgages on single family and multifamily homes including manufactured homes and hospitals. The mortgage insurance helps lenders offer loans at a lower cost with easier credit requirements and low down payments.
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