An agency of the U.S. Department of Housing and Urban Development that insures home mortgage loans to people with low income or poor credit. The insurance allows private-sector banks and savings and loans to underwrite a mortgage in circumstances that would otherwise disqualify potential home buyers. The FHA also provides low-income housing through public- housing developments and manages the Section 8 rental program, which allows renters to locate and rent apartments using vouchers issued by the FHA. Section 8 refers to the section of the law that created the rental program.
Federal-housing-administration Sentence Examples
Like the Department of Housing and Urban Development, the Federal Housing Administration makes it easier for home owners to get approved for improvement loans by insuring loans held by private mortgage companies.
The Federal Housing Administration (FHA) does not provide loans per se.
The initiation of the Federal Housing Administration (FHA) loans began during this era, to encourage and help people have the ability to own their own homes and rebuild their lives.
Currently, the program is insured by the FHA, which is also known as the Federal Housing Administration.