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Today is one of those times! So enjoy these 20 interesting mortgage and real estate facts: The first step to getting a mortgage is knowledge, but about half of Americans are stumbling! When asked about the basic criteria needed to get a mortgage loan, 50% of consumers were unable to provide answers.
"FHA loans" are mortgages insured by the Federal Housing Administration (FHA), which. their existing home sale can be used as a down payment on their new property.. However, many FHA lenders offer both a 5/1 ARM and a 3/1 ARM.. Fun fact – the standard FHA loan program is technically known as the “FHA 203b “.