Fha Insured Loan

An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided by a FHA-approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, an upfront mortgage insurance premium (UFMIP) equal to 1.75 percent of the base loan amount at closing is required, and is normally financed into the total loan amount by the lender and paid to FHA on the borrower's behalf.
Posts about Fha Insured Loan
  • Whistleblower Suit Against Quicken Loans Proceeds

    … concerning a different loan, Quicken’s FHA Operations Director Jeanette Ahles wrote that she had “done all I can with this income,” further stating that she “gave a little OT [overtime],” but that it was “still not enough to qualify.” Ultimately, Quicken approved and endorsed both loans for FHA insurance. [Lyon can be seen in this YouTube video…

    Due Diligence- 19 readers -