The Federal Housing Administration (FHA) was established in the year 1934 with the objective of providing feasible housing solutions low and middle-income families making it possible for them to realize their dreams of owning a home. The prime objective of introducing FHA insured mortgage loans is to protect borrowers from predatory mortgage lenders and protect lenders from loan defaulters. However, FHA does not provide any loans to the borrowers. On the contrary, the loans are insured by the FHA under which borrowers can obtain mortgage loans from any FHA-approved lender at competitive rates. |
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