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What is a FHA loan? How does one qualify?
- KerryLv 68 years agoFavorite Answer
FHA is a fed funded mortgage loan program for people that want to buy houses but
dont have 20% to put down. the house you select also must qualify for fha approval
as well; maybe the owner doesnt want to go under the fha program cuz the house standards
are strict before an inspector will approve the house for the program. you apply just like you
would a bank mortgage and see what happens/how you make out; better have good credit
score and clean history behind you / things are alot tougher today than ..yesterday.
talk to a realtor/they can fill you in on it all......excellent program for first time buyers...helped
millions get into houses