FHA - The Federal Housing
Administration. FHA was established in 1934 to advance the opportunity of
homeownership by the average American. Many lenders offer FHA loans, which
require little to no downpayment, minimal mortgage insurance (if any), and allow
for unique situations such as non-occupant co-borrowers. Although FHA programs
offer competitive rates, there are often better offers to be found in
conventional financing options if the borrower qualifies.