Learn About FHA Mortgages
Learn About FHA Mortgages
February 1, 2009 by sfhgblog · Leave a Comment
Department of Housing and Urban Development (HUD), have been partners in creating
homeownership opportunities for more than 70 years. Since FHA was created in 1934, it
has helped more than 34 million families become homeowners, many by working with
their REALTORS® to achieve their dream of homeownership.
Down Load Your Brochure
REALTORS® AND FHA – WORKING TOGETHER TO HELP PEOPLE
FULFILL THE AMERICAN DREAM
This brochure illustrates improvements in FHA programs that will benefit you.
Many aspects of the FHA mortgage application process have been streamlined to make the process more user-friendly and efficient. Upon reading this brochure, you will see that FHA programs are a valuable asset to REALTORS®, other real estate professionals, and most importantly, those seeking to own a home.
Backed by the full faith and credit of the Federal government, FHA-insured mortgages are one of the safest and most affordable types of mortgages available to homebuyers. Working together, REALTORS® and FHA help millions of families come home.
WHAT IS FHA MORTGAGE INSURANCE?
The Federal Housing Administration (FHA) insures mortgages offered by banks, savings
associations, and other financial institutions. An FHA-insured mortgage is backed by the
full faith and credit of the United States government. While FHA does not make loans, it
benefits the homebuyer by providing mortgage insurance which encourages financial
institutions to make affordable financing available.
What are the benefits of an FHA mortgage?
FHA offers low down payment options, eligibility with less than perfect credit, a loan at a
reasonable cost, and help if there is ever trouble making the mortgage payment. Because
an FHA mortgage insures the lender against loss, an FHA mortgage typically has an
interest rate that is competitive with the best in your market and lower than the rates
charged for subprime and other non-prime mortgages.
FHA not only helps people buy a home, but helps them keep it as well. In return for
protecting lenders against loss, FHA requires financial institutions to offer assistance to
borrowers experiencing difficulty making mortgage payments.
DOWNLOAD the brochure to read all of the information.
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