In order to acquire an FHA loan, one has to understand exactly what it is all about. In a nutshell, it can quite easily be described as a form of mortgage that has essentially been issued by a federally qualified lender. That means that it has been insured by the Federal Housing Administration or the FHA itself. As a general rule, almost all FHA loans have also been quite specifically designed for various types of low to moderate income earners who do not have the borrowing power of the high end borrowers who are more interested in procuring large mansions to live in. That is, FHA loans apply to those people who are not really in a position to dole out a large lump sum down payment. As a general rule, an archetypical FHA Loan is widely known for having less stringent requirements than many similar conventional (commercial) home loans. However, that certainly does not mean […]