If you are searching for the meaning of the Federal Housing Administration in real estate and also a definition of the Federal Housing Administration, then this blog post is helpful for you
Definition
The Federal Housing Administration (FHA), a wholly-owned government corporation, was
established under the National Housing Act of 1934 to improve housing standards and conditions;
to provide an adequate home financing system through insurance of mortgages, and to stabilize
the mortgage market. FHA was consolidated into the newly established Department of
Housing and Urban Development (HUD) in 1965. Since 1934, FHA has been extremely
successful in achieving these goals. FHA loans require special an appraisal/inspection that
determine if a property meets the agency’s minimum property standards. While somewhat more
expensive than a conventional loan in terms of interest rates and insurance fees, FHA loans offer
slightly more liberal qualifying criteria. The current maximum FHA loan amount in the Houston
area, for a single-family home, is $139,650.00
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