What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.
Read more: http://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-1.aspx#ixzz4jQsuHcLf
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