1st Rate Mortgage

An FHA loan is insured by the Federal Housing Administration, a federal agency within the U. S. Department of Housing and Urban Development (HUD) The FHA doesn't loan money to borrowers, rather, it supplies lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are created to aid creditworthy low-income and moderate-income families who do not meet needs for conventional loans.