FHA stands for Federal Housing Administration. It is a United States government agency created as part of the
National Housing Act of 1934. It sets standards for construction and underwriting and insures loans made by banks and other private lenders for home building.
In 1965 the Federal Housing Administration became part of the Department of Housing and Urban Development (HUD). Since 1934, the FHA and HUD have insured over 34 million home mortgages and 47,205 multifamily project mortgages.
At a point in time FHA loans were geared and marketed primarily to first-time buyers and to those that had little money for down-payment. That was in the Past. FHA loans are now a viable option for many people who desire to be a homeowner. There are actually very few home loan products that offer the low down payment options that can be found with a FHA loan. The FHA loan also has other features that a homebuyer might find attractive.
The FHA Loan product might be a viable option for the first time home buyer, the person looking to relocate or even the homeowner who has decided that they need a bigger residence. There are many home loan products. To find out if a product like the FHA home loan is for you, your best course of action is to call Pam Robinson at Prospect Lending. Valuable information can be gained at Pam Your Loan Officer For Life.
Once you have your Home loan strategy in place you can start your Bronx home search at BronxValueHomes. There is an unlimited selection of homes to choose from.
Pam Robinson
Prospect Lending
631 - 760 - 3254
James Beech
RE Consultant
Besmatch Real Estate (Bronx)
888-959-5876
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