What Is The FHA?

FHA stands for federal housing administration. It was originally set up as part of the National Housing Act of 1934. Historically it was set up because of the great depression. Its original goals were to provide financing, improve housing conditions and create a more stable mortgage market.   There is a loan known as a FHA loan which is very popular with first time home buyers as well as buyers who do not have 10-20% down payment. It is also available to those who have a lower credit score. Be sure to check with your lender on what credit score they require. FHA homes are acquired using these loans and they can be used to buy condos, town houses, housing units and single family homes. There are also several different FHA loan products like adjustable rate...

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