What is the
Federal Housing Administration (FHA)?
The FHA is the world's largest insurer of mortgages, insuring more than
47.5 million properties since its creation in 1934. They provide mortgage
insurance on loans backed by FHA-approved lenders, reducing their
risk; and they protect against losses by paying a claim to a lender in the
event of a homeowner default.
Having FHA approval is seen in the market as a sign of a well-organized
condo association and makes all of the units marketable to the widest
range of purchasers.
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