This is the first post in a series about the FHA (Federal Housing Administration). In short, the FHA is an agency of the federal government that helps borrowers get amounts they qualify for, and assists lenders by reducing their risk in issuing loans. The FHA is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created.
An FHA refinance mortgage or FHA loan allows for the refinance or purchase of a home with a low down payment. These loans are great for the first-time homebuyer.