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Mortgage glossary
FHA Loan
A mortgage made by an approved lender and insured by the Federal Housing Administration. FHA guidelines may allow a lower down payment or more flexible credit review than some other programs. The borrower, property, and loan must meet FHA and lender requirements, and mortgage insurance generally applies.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.