Terms

FHA Loan

FHA Loans are mortgages backed by the Federal Housing Administration

  • Typically made to middle-income borrowers with subprime FICO
  • Backed by the Federal Housing Administration and Ginnie Mae
  • Some would consider these to be "Subprime" mortgages backed by the US government
  • Normally issued for banks and other standard mortgage entities (must meet FHA Loan Guidelines)