FHA Financing

FHA Loans Facilitate Home Ownership

Posted by W. Darrell Walters Blog on Jun 8, 2010 in Featured, FHA Financing | 0 comments

The Federal Housing Administration (FHA) program first began in 1934 in an effort to encourage home ownership despite the difficult economic times of the era. The program enables consumers who may not qualify for a standard loan to obtain the financing they need to purchase a home without income limitations. FHA loans differ from typical loans in that they are insured by the Federal Housing Administration, which is a part of the Department of Housing and Urban Development (HUD). Because this insurance reduces the lender’s risk on the loan, lenders have greater flexibility with regard to...