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Why Most Florida Condominiums Don’t Qualify for FHA Financing

/ Owner - December 6, 2020

Let’s start with some background on FHA-insured mortgage financing. The Federal Housing Administration (FHA) is an agency of the US Department of Housing and Urban Development (HUD), a Cabinet-level department of the Federal government. In order to help make mortgage funding available to a broader rangeof buyers, the FHA insures independent lenders against buyer/borrower default. The FHA does not make mortgage loans, it insures them. Buyers/borrowers pay mortgage insurance premiums to the FHA; the lender receives the insurance payout from the FHA if the buyer/borrower defaults.      Read the article………………………………….

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