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Condo unit must be your primary residence. FHA loan. You can search for FHA-approved condos through the U.S. Department of Housing and Urban Development (HUD) website. The qualifications for an ...
Buying an FHA-approved condo is easier today thanks to recent changes made by the Federal Housing Administration (FHA). Borrowers can take advantage of flexible FHA qualifying guidelines to ...
An FHA appraisal is a home appraisal that involves an FHA-approved professional evaluating a home to determine its market value. This step is required by lenders during the FHA mortgage process to ...
An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by an FHA-approved lender. FHA mortgage insurance protects lenders against losses. [1] They have historically allowed lower-income Americans to borrow money to purchase a home that they would not otherwise be able to afford.
The Federal Housing Administration ( FHA ), also known as the Office of Housing within the Department of Housing and Urban Development (HUD), is a United States government agency founded by President Franklin Delano Roosevelt, established in part by the National Housing Act of 1934. Its primary function is to provide insurance for mortgages ...
Housing Act of 1949. Harry S. Truman signing bill. The American Housing Act of 1949 ( Pub. L. 81–171) was a landmark, sweeping expansion of the federal role in mortgage insurance and issuance and the construction of public housing. It was part of President Harry Truman 's program of domestic legislation, the Fair Deal.
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