   
|
|
FHA Loan
|
| FYI - For 2011, Dow up, Dogs of the Dow up more (double digits) |
| |
An FHA loan is a loan insured by the FHA, or Federal Housing Administration. An FHA loan is one type government loan along with the VA loan, and others. An FHA loan has a mortgage principal limit set by the FHA that depends upon property location. Like any other mortgage, the risk of default on an FHA loan increases as the down payment decreases, yet the FHA allows a very low down payment on an FHA loan because of its mandate to make housing more affordable for low-income and moderate-income families. An FHA loan may be assumable if the property owner changes. Whether or not any restrictions on assumption exist depends upon when the FHA loan was originally obtained. Assuming an FHA loan lowers the cost of purchasing a home by eliminating many closing costs related to financing.
Rate this FHA Loan definition...
|
|
Where is the market headed? The answer may surprise you. Find out
right now with the exclusive & Barron's recommended charts of Chart of the Day.
|
Popular Terms: option premium, deferred revenue, annual return, per diem, inflation, 144a, Zero Cost Collar, current ratio, 1035 exchange, labor relations, retained earnings, 401a, liquidity ratio, irrevocable trust, Key Rate Duration, risk management, debt service coverage, balance sheet, deferred tax, quality assurance, dividends payable, class C shares, ex-dividend date, stock split, ex-dividend, 1031 exchange, command economy, reverse mortgage, stock market close, EBITDA, margin rate, LIBOR, required rate of return, FICO score, VIX, limit order, APR, minority interest, open position, implied volatility, average price per share, phantom income, FTSE, real GDP, diluted share, wholly-owned subsidiary, in escrow, cancelled check, covered put
|
|
| |