FHA
Speech parts
1. FHA - Noun
2. FHA - Proper noun
Meaning
the federal agency in the Department of Housing and Urban Development that insures residential mortgages
Source: WordNetSynonyms
Hypernyms
Examples
After 1935 the FHA established guidelines to steer private mortgage investors away from minority areas.
After World War II availability of FHA loans stimulated a housing boom in American suburbs.
As the capital markets in the United States matured over several decades, the impact of the FHA decreased.
A handful of Mississippi counties have FHA loan limits that jump just slightly above the standard $271,050.
Borrowers who do make additional payments towards an FHA mortgage principal, may take the initiative through their lender to have the insurance terminated using the 78% rule, but not sooner than after 5 years of regular payments for 30-year loans.
For loans begun after 6/3/2013, the 15-year FHA insurance premium follows the same rules as 30-year term (see above.) This is the big difference between PMI and FHA insurance: the termination of FHA premiums can hardly be accelerated.