The HUD FHA insurance fund was established during the Great Depression, when rates of foreclosure and default rose sharply. The purpose of the fund was to protect lower income Americans from being squeezed out of the home ownership market.

As time went by, private mortgage insurance companies developed, and the HUD FHA insurance fund became the insurer of last resort for those who could not raise a conventional downpayment, or did not qualify for private mortgage insurance.

Apply online for FHA mortgage help.

The HUD FHA insurance fund is overseen by the US Department of Housing And Urban Development. The Federal Housing Administration (FHA) was established in 1934 to increase home construction, reduce unemployment, and oversee loan insurance programs.

How The HUD FHA Insurance Fund Can Help You

If you are one of the millions of Americans who struggle to get conventional finance for a home mortgage, the HUD FHA insruance fund could be the solution to your problems.

FHA mortgage insurance encourages lenders to make loans to otherwise credit-worthy borrowers and projects that might not be able to meet conventional underwriting requirements, protecting the lender against loan default on mortgages for properties that meet certain minimum requirements -- including manufactured homes, single and multifamily properties, and even some health-related facilities.

If you meet the FHA loan requirements, which are considerably less strict than those of traditional lenders and private mortgage insurers, then you can be approved for an FHA-backed mortgage.

A loan backed by the HUD FHA insurance fund can be issued by any one of the FHA approved lenders.

Qualifying For Help From The HUD FHA Insurance Fund

To qualify for the HUD FHA insurance fund, you must meet the FHA loan requirements. These incluse having steady income, some cash to make a downpayment, and affordable mortgage payments after the loan is approved.

For detailed information on FHA Loan Requirements, click here.

If you are buying your first home, the HUD FHA insurance fund might be just what you need. Your down payment can be as low as 3% of the purchase price, and most of your closing costs and fees can be included in the loan.

The HUD FHA insurance fund also covers a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.

The HUD FHA insurance fund also supports reverse mortgages for senior citizens - these mortgages allow you to gradually extract the equity in your home and use it for your day-to-day living expenses.

Want to make your home more energy efficient? Using the HUD FHA insurance fund, you can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

To find out more about FHA loans, compare FHA lender mortgage rates and closing costs, or make an online application, visit FHA Loan Information at EmergencyRefinancing.com.