FHA Home Loan Refinancing Profile

FHA lending has been greatly expanded since its inception in 1934. Millions of consumers have become homeowners with FHA home loans. Recently the FHA has opened the door for borrowers to refinance their home and take cash out up 95% loan to value.

Thousands of sub-prime borrowers are flocking to the FHA lenders so that they can lower their payments and lock in a fixed interest rate for their first mortgage.

FHA is the only government agency that operates entirely from its self-generated income and costs the taxpayers nothing. The proceeds from the mortgage insurance paid by the homeowners are captured in an account that is used to operate the program entirely. FHA provides a huge economic stimulation to the country in the form of home and community development, which trickles down to local communities in the form of jobs, building suppliers, tax bases, schools, and other forms of revenue.

About the FHA
The Federal Housing Administration (FHA), is an agency of the federal government that insures private residential loans that are issued for new and existing housing, and loans that are approved for home repairs. The FHA was created by congress in 1934 and became part of the Department of Housing and Urban Development's Office of Housing (HUD) in 1965. Today the mission FHA mission for more affordable housing for all Americans continues, as lenders like us have joined forces to spread good will and fair financing.