In this video, I gave a quick overview of FHA loans.
Hello everybody and welcome to the Reside Daily Bite; I’m your host, David Doucette and today I want to talk to you a little bit about FHA loans and what all that means. The FHA or the Federal Housing Administration is a division of HUD and from their website I want to read a couple of things…
It’s part of the United States Department of Housing and Urban Development. FHA provides mortgage insurance on single-family, multifamily, manufactured homes and hospital loans made by FHA-approved lenders throughout the US. Borrowers obviously need to meet certain requirements to qualify for the insurance but lenders bear less risk because FHA will pay the lender if the homeowner defaults.