Many potential home buyers have questions about the FHA loan and the process needed to secure a home mortgage. Some people are even confused about what is a myth and what is a fact about FHA loans. Listed below are the common FHA mortgage facts along with brief explanations. FHA Mortgage Facts: Basics About The FHA Organization Definition of FHA FHA is an acronym that stands for Federal Housing Administration. The administration was founded by the United States Federal government in 1934. The main purpose of FHA was to allow people with sufficient income to purchase a home … (2 comments)
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