MaNdAz asked in Business & FinanceCredit · 7 years ago

What is a FHA loan? How does one qualify?

1 Answer

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  • Kerry
    Lv 6
    7 years ago
    Best 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

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