Section 8, Unit 1: The Federal Housing Administration and the Mortgage Market

The Federal Housing Administration funds its mortgage insurance program ______.

By charging borrowers a mortgage insurance premium

Stan builds new homes. He feels good knowing that he's providing safe and healthy homes for the community and that they are quality structures that will shelter people for many years to come. Which FHA benefit is at work here?

Construction standards

Jean is a high school English teacher. With the Good Neighbor Next Door program, she's able to buy a foreclosed FHA-insured property ______, though she does have to agree to live on the property for three years.

For a 50% discount off list price and a down payment of only $100

The FHA loan program is designed for borrowers who ______.

Have a minimal down payment and less-than stellar credit

The FHA is part of ______.

The Department of Housing and Urban Development

The FHA has helped to significantly improve the mortgage market through ______.

The introduction of the long-term amortized loan