Federal Housing Administration (Noun)
Meaning
The federal agency in the Department of Housing and Urban Development that insures residential mortgages.
Classification
Nouns denoting groupings of people or objects.
Examples
- The Federal Housing Administration plays a critical role in making homeownership accessible to millions of Americans.
- Homebuyers can take advantage of the lower down payment requirements offered by the Federal Housing Administration's mortgage insurance programs.
- In response to the economic crisis, the Federal Housing Administration expanded its loan guarantees to include a wider range of properties.
- By insuring residential mortgages, the Federal Housing Administration provides liquidity to the mortgage market and stimulates housing market growth.
- Homeowners who finance their purchases through the Federal Housing Administration benefit from competitive interest rates and reduced closing costs.