FHA History and Home Ownership

FHA History offers insight into current opportunities for home ownership.

Real estate in Richmond, VA showcases history.  The history of the FHA and its effect on home buyers is fascinating.  Check out the link at the bottom of the page.  Home buyers today have financing options that did not exist prior to the creation of the FHA. 

 Highlights:

1) Mortgage loan terms were limited to 50 percent of the property’s market value, with a repayment schedule spread over three to five years and ending with a balloon payment.

2) America was primarily a nation of renters. Only four in 10 households owned homes.

FHA currently offers low interest fixed rated 30-year loans with only 3.5% down for those who qualify. Check with a lender for details!

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory