Warning
Info
Warning
Info
Simple English definitions for legal terms
FHA
Read a random definition: indorse
A quick definition of FHA:
Term: FHA
Definition: FHA stands for two different things. The first is Farmers' Home Administration, which helps farmers with loans and other support. The second is Federal Housing Administration, which helps people buy homes by providing loans and making sure the homes are safe to live in.
A more thorough explanation:
Definition: FHA stands for Federal Housing Administration. It is a government agency that provides mortgage insurance to lenders to help people buy homes.
For example, if you want to buy a house but don't have enough money for a down payment, you can get an FHA loan. This means that the FHA will insure the loan, which makes it less risky for the lender. As a result, you may be able to get a loan with a lower down payment and a lower interest rate.