FHA
- Federal Housing Administration: an agency established in 1934 that provides mortgage insurance to lenders to cover losses from borrower defaults, promoting homeownership by enabling loans for those who may not meet typical home loan requirements
- The FHA has made homeownership possible for many first-time buyers.
- He was able to secure a home loan despite his low credit score thanks to FHA insurance.
- Without the FHA's insurance, lenders would be less willing to offer mortgages to high-risk borrowers.
Provide Feedback
