Fha (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 buyer qualified for an FHA loan with a lower down payment requirement than a conventional mortgage.
- To be eligible for FHA financing, the property had to meet certain minimum safety and habitability standards.
- The FHA insured mortgage allowed the family to purchase a home with a more affordable monthly payment.
- FHA loans are popular among first-time homebuyers due to their more lenient credit score requirements.
- The real estate agent advised her clients to consider an FHA loan, as it would provide them with more favorable terms.