Big 3 – Loan Programs
July 8th, 2009
Categories:Home Buyer Education
In the world of lending there are countless factors involved in a securing a loan for a home purchase. Other articles will delve deeper into the intricacies involved with obtaining a loan. This article will give you an overview of the three main loan programs available. When you begin researching loan programs, be sure to contact a mortgage professional for more information and the latest market updates and changes.
FHA-Insured Loans
An FHA loan is a loan insured by the Federal Housing Administration. The FHA was created in 1934 to increase home construction and reduce unemployment through loan insurance, which essentially lowers the risk to the lenders creating the loan.
During tough real estate times, FHA loans step in the spotlight and become more important as they allow homeowners to Read the rest of this entry »
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