SellingNorthernNV

The Federal Housing administration’s (FHA) is a government organization that is entirely self-funded (the only one of its kind) through the insurance premium paid by on FHA funded homes. Its function is to provide mortgage insurance on loans made by FHA approved lenders. This insurance removes some of the risk undertake by the lender by protecting them against potential losses that would result from a defaulting homeowner. The benefit to the buyers is that unlike a conventional loan, FHA-insured loans generally require a smaller cash investment (currently 3.5% down). Furthermore, although even FHA requirements are beginning to tighten, there is still generally a little more flexibility when calculating Income and payment ratios.

Related Posts:
2009 FHA Limits in NV
VA Loan Limits & Requirements
General FHA Rules

Should you have any questions or need further information,
please don’t hesitate to contact me,(775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Tags: FHA, mortgage

This entry was posted by Josh Talayka on Thursday, December 18th, 2008 at 7:53 am and is filed under FHA loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.