What is FHA Loan?
The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in insuring properties since 1934.
Who is insured by FHA:
FHA Mortgage insurance is a policy that protects lenders against losses that result from borrowers defaults on home mortgages
Who pays for FHA Mortgage Insurance?
FHA Mortgage insurance is charged to the homeowner/borrower each month at the rate of .5 percent per year of the total loan amount. FHA also charges an upfront mortgage insurance premium of 1.5 percent.
Have More Questions and need information?
For more information please contact Shahla at 619-920-4136 or email homes@newrealestatemarket.com
