Federal Housing Administration

Created By: Amber, Arthurline, Caroline, & Patricia

“FHA”

Choose FHA!

QualificationsHave a positive credit history spanning the last two years.

Show consistent or increasing income.

Have a steady employment record (two years or more with the same employer is perfect).

Have no bankruptcies in the last two years.

Keep the mortgage payment at approximately 30% of their gross income or less.

Pros Of

CREATION

1934HUD-1965

WHY?ReformAmerica

Access to affordable homes

SERVED...

1940’s1950’s-60’s-70’s

Everyone

People It Served!

PurposePurpose PurposePurpose FHA Does Not Make Loans!

Achievements

Insured 34 million homesProvided homes

Cons

There are limits to how much a person can borrow.

Bibliography

The Federal Housing Administration (FHA)." Housing and Urban Developments. 6 Sept 2006. U.S. Department of Housing and Urban Development, Web. 15 Feb 2010. <http://www.hud.gov/offices/hsg/fhahistory.cfm>

Cornett, Brandon. “Pros and Cons of FHA Loans for Home Buyers”. First-Time Buyer Blog. 9 Feb. 2010 http://www.cornettcommunications.com/blog/pros-and-cons-of-fha-loans-for-home-buyers/

“Looking back at the origins of FHA”. 9 Feb. 2010 http://1.bp.blogspot.com/_3r6sJNDbb0w/SvwZj55bNtI/AAAAAAAAFUk/cEiOBmbWsfQ/s400/FHA+Woman%27s+Day.jpg

New Deal Timeline. Chronology. 9 Feb. 2010http://xroads.virginia.edu/~MA02/volpe/newdeal/timeline_text.html

“No More FHA Spot Approval for Condos.” 19 Aug. 2009. 9 Feb. 2010. http://ctrealestateunleashed.com/wp-content/uploads/2009/08/fha-logo.jpg

“Pros and Cons of FHA Loans”. Financial Web. 9 Feb. 2010 http://www.finweb.com/mortgage/pros-and-cons-of-fha-loans.html

“What is an FHA Loan?” FHA. 9 Feb. 2010 http://www.fha.com/fha_loans.cfm

“What is FHA? FHA Mortgage Requirements”. FHA Loan Pros. 9. Feb. 2010 http://www.fhaloanpros.com/what-is-fha/

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ACKNOWLEDGEMENTSAmber Housley

Arthurline Bowen

Caroline AbdulBaki

Patricia Parker