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

    … explaining the appraisal process and particularly, why Quicken has an incentive to get a high appraisal!!! In typical Dan Gilbert fashion, Quicken didn’t buckle under and try to quietly settle the matter. Quicken came out swinging. Immediately after the suit was filed, Quicken CEO Bill Emerson was quoted in the Detroit News saying, “No threat, including…

    Due Diligence- 19 readers -
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