| From the beginning in 1934, FHA has helped almost 35 | | | | home. |
| million homeowners, making it the biggest insurer of | | | | FHA home refinancing has also been helping those |
| mortgages in the world. The 109th Congress | | | | borrowers in 2/28 ARMs, and someone who is just |
| introduced the Expanding American Homeownership | | | | looking for a low FHA mortgage rate. FHA cash out |
| Act in June 2006 which would enable FHA mortgage | | | | refinances may go up to 95% of the loan to value, and |
| loans to be a safe option for more underserved | | | | FHA rate/term refinances may go up to 97.75% of |
| low-and moderate-income, and minority families so | | | | the loan to value. |
| they can achieve the American Dream of | | | | The (HUD) Department of Housing & Urban |
| homeownership. President Bush also urged Congress | | | | Development is the federal agency responsible for |
| to quickly pass the Administration's FHA modernization | | | | national policy, and mortgage programs that address |
| proposal to help more families in need. The Current | | | | the housing needs of United States. The (FHA) Federal |
| FHA mortgage rate has dropped to 5.500% - APR | | | | Housing Authority which is under HUD plays a major |
| 5.830%. This is great news for those seeking a | | | | role in helping homeownership by evaluation |
| mortgage from FHA. | | | | homeownership for lower-and moderate-income |
| The FHA home loans have been helping many | | | | homeowners. FHA helps first-time home buyers, and |
| borrowers seeking a low down payment mortgage | | | | others who might not be able to meet down payment |
| program, and also for those that need a bad credit | | | | guidelines for conventional/conforming mortgage loans |
| mortgage. FHA mortgages can help a 1st time home | | | | by providing mortgage insurance (MIP) to private |
| buyer or 2nd time home buyer. You're able to use the | | | | mortgage lenders. |
| FHA loan as many times as you move to a new | | | | |