Updated
on
Monday, January 03, 2011 05:18:22 PM
-- Assumptions
FHA Loan
A low down payment loan insured by the
Federal Housing Administration under the Department of
Housing and Urban Development or HUD. FHA does not
provide mortgage loans, FHA provides mortgage insurance for
the lending institution in case the borrower defaults.
The mortgage loan is funded by a lending institution, such
as a mortgage company, bank, savings and loan association
and is then insured by FHA.
Allowable FHA loan sizes are determined by
geographical location. To see what the allowable loan
limits are in your area please
click here.
BancGROUPTM Mortgage
Corporation is an Equal Housing Lender and Colorado, Illinois, Indiana,
Wisconsin and Florida Residential Mortgage Licensee.