The Federal Housing Administration, FHA, requires homes to be livable upon purchase. Strict inspection requirements are given to FHA approved appraisers to not only come up with a market value but to identify any potential heath or safety hazards.

With as many resales being foreclosed or short sale properties, the potential for damage in these otherwise quality homes is not uncommon. [Read more…]

FHA loans are mortgages issued by FHA qualified lenders only. These loans are insured by the Federal Housing Administration (FHA). This insurance provided by the federal government allows lenders to lend more freely by assuring them they will be repaid in the event of default.

“We have seen home buyer interest in FHA loans go from practically zero three years ago to upwards of 87 percent today,” said Christopher Gardner, founder and president of FHA Pros, LLC. “Despite this rapid rise in popularity, many buyers still do not fully understand the benefits of these loans, and we believe it’s time to change that.” [Read more…]