What is an FHA Loan?
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA), which is within the U.S. Department of Housing and Urban Development (HUD). It is offered through various mortgage lenders who have been approved by the government agency.
Established in the early 20th century as a part of the National Housing Act of 1934, the FHA offers an alternative option to the conventional mortgage loan. These loans make it easier for borrowers to achieve their dream of home-ownership, as they tend to have more flexible qualification requirements.
