FHA Commissioner David Stevens speaks about FHA and his responsibilities.
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The FHA Section 242 Hospital Insurance program assists large urban hospitals as well as rural critical care centers such as the Rio Grande Medical Center in Del Norte, Colorado, a town of 1,709 located in south central Colorado.
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The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home.
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The Minimum Property Standards (MPS) establish certain minimum standards for buildings constructed under HUD housing programs.
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The Neighbor Next Door initiatives are a collection of FHA's home sales programs designed to help communities and promote homeownership.
Overview
The Federal Housing Administration, generally known as "FHA", is the largest government insurer of mortgages in the world. A part of the United States Department of Housing and Urban Development (HUD), FHA provides mortgage insurance on single-family, multifamily, manufactured homes and hospital loans made by FHA-approved lenders throughout the United States and its territories. While borrowers must meet certain requirements established by FHA to qualify for the insurance, lenders bear less risk because FHA will pay the lender if a homeowner defaults on his or her loan. FHA has insured over 38 million home mortgages and 47,205 multifamily project mortgages since 1934. Currently, FHA has 6.7 million insured single-family mortgages and 13,000 insured multifamily projects in its portfolio. Clearly, FHA provides a huge economic boost to the country in the form of home and community development, particularly in today's challenging financial climate.