What is an FHA Loan An FHA loan is simply a loan that is insured by the Federal Housing Administration (“FHA”). Basically, the FHA promises lenders that if they make loans to borrowers according to certain guidelines, then FHA will guarantee the loan. So, if the borrower defaults on the loan, FHA will reimburse the […]
What is FHA? FHA stands for the Federal Housing Administration. It is a government organization that provides insurance on loans to protect FHA approved lenders. Because FHA helps reduce the risk to lenders, they are willing to make loans to people that they may have otherwise not been willing to. Lower credit and income requirements mean […]