FHA Home Loans From Nationwide

FHA Home Loans - What is the FHA?

The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring nearly 33 million properties since its inception in 1934.

FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner's default. Loans must meet certain requirements established by FHA to qualify for insurance.

Unlike conventional home loans that adhere to strict underwriting guidelines, FHA home loans require very little cash investment to close a loan. There is more flexibility in calculating household income and payment ratios. The cost of the mortgage insurance is passed along to the homeowner and typically is included in the monthly payment. In most cases, the insurance cost to the homeowner will drop off after five years or when the remaining balance on the loan is 78 percent of the value of the property -whichever is longer.

FHA Home Loans - How Can I Get One

Nationwide is proud to offer FHA home loans to those who meet the qualifications that this government agency has set up. Just like our VA home loans, we've been carefully screened and now qualify to offer FHA home loans to the people that need them most. You can select from the numerous types of home loans that are offered through them. We know it's daunting, so just fill out the form at the top of the page and talk to one of our FHA home loans experts today!

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