What is the Federal Housing Administration?   The Federal Housing Administration (FHA) provides mortgage insurance on loans made by lenders approved lenders by the FHA 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.

What is FHA Mortgage Insurance?  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.

What are the Benefits to Borrowers?  One of the benefits to Buyers is a lower down payment. An FHA insured loan is not just for first time home buyers; it covers first time buyers and second time buyers, refinincing and other buyers of a principal residence.  2009 is the year to benefit from the $8,000 First Time Home Buyers Tax Credit and to benefit from historic lows in mortgage interest rates and lower home prices.

Get the FHA Story in the Video Below http://link.brightcove.com/services/player/bcpid1857622901?clid=1847308108&bctid=1858922689

 Check out the FHA Web Site Below

http://www.hud.gov/offices/hsg/fhahistory.cfm

Talk to a Mortgage Broker about FHA Loans Below  Get the latest mortgage rates and information on the FHA Mortgages, First Time Home Buyers Tax Credit and the NJ Smart Start program from the Superior Mortgage loan officer at http://www.bobfaustsmc.com/