How to Apply for an FHA Loan
Apply for an FHA loan, or Federal Housing Authority loan, by meeting the loan criteria, filling out the paperwork, and considering the income requirements. Get a home loan subsidized by the federal government through the FHA with help from a registered financial consultant in this free video on personal finance and home loans.
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This is financial advisor, Patrick Munro, talking about how to apply for an FHA loan. FHA stands for The Federal Housing Authority, and Federal Housing Authority is a a mandated guideline that allows individuals to look at homes, there are certain guidelines, not above. The FHA, of course, will insure a hundred percent of the value of that loan. You also need to meet their loan criteria, meaning the amount of income that you have should be relative to the cost of the house. There is more paperwork involved in an FHA loan than a standard non-traditional loan outside that in the free world so to speak, but The Federal Housing Authority is a good route to go, because normally the interest rates are subsidized by the federal government. Many veterans apply for FHA loans, and the Federal Housing Authority is a good route to go for public servants as well, cause' they tend to make less than those in the public, in the private sector. This is financial advisor, Patrick Munro, talking about how do you apply for an FHA loan.