Federal Housing Administration Insured Mortgage
Under a FHA-insured mortgage, both the property and the borrower must meet certain minimum standards. The borrower is charged an insurance fee of one-half percent on the unpaid balance and can, under certain conditions, receive up to 97% financing on the appraised value of the property. Borrowers are not permitted to obtain second mortgages to use down payments. Also, the FHA sets limits as to the maximum loan origination fee charged by the lender. Fha insures these loans for up to 30 years.
Popular Real Estate Terms
Valuation method for land or improvements to property. It takes into account gross rentals less operating expenses. ...
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percentage relationship of a specific part of property to the whole property. An example is the square footage of one office to the square footage of all offices in an office building. ...
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