FHA loan
Federal housing financing
An FHA loan is a mortgage insured by the Federal Housing Administration, a U.S. government agency.
These loans allow lower down payments and more flexible credit requirements than conventional mortgages, making homeownership accessible to buyers who might not otherwise qualify: We got an FHA loan because we only had 3.5% to put down.
- mortgageSecured home loan
- federal housingGovernment-provided residential units
- down paymentInitial sum toward purchase
- first-time buyerOne buying initially
- closing costsFees finalizing property purchase
closing day · HUD · refinance · interest rate · PMI · mortgage insurance · insurance premium · underwriting · preapproval · debt-to-income · credit score · homeownership · housing market · affordable · government-backed · real estate agent · escrow · appraisal
- loanslend, borrow, borrower, microloan, mortgages
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage payment, mortgage insurance
- loan guaranteessurety bond, bank guarantee, payment guarantee, personal guarantee
- mortgage reliefforbearance, mortgage assistance, mortgage relief, foreclosure prevention, payment plan
- debtdebt, creditor, owe, debtor, debt forgiveness
- real estatehouse, home, apartment, property, sale