FHA – ready or not, here it comes…again?
By Greg Downey – Town & Country Mortgage
The Federal Housing Administration, created by the National Housing Act of 1934, is the largest insurer of mortgages in the world – to the tune of 34 million individual properties insured. In addition, the FHA is the only governmental agency that operates entirely from its self-generated revenues. In fact, the FHA program could conceivably be called the grandfather to all modern loans.
So why is FHA such a big deal today, some 75 years later?
Even with mortgage insurance (which, by the way, is tax-deductible for the life of the loan on all loans originated in 2008), the payment is often more competitive than alternative high loan-to-value products.
It’s important to work with a mortgage professional who has been familiar with FHA loans for years – not just somebody who got FHA-approved 3 months ago because the market dictated it. Town & Country Mortgage has been approved since 2001 to originate FHA loans. Please give us a call today if you have any further questions about how the FHA can help you buy your next (or first!) home. You can also reach me through www.reidrealtyteam.com