FHA loan

FHA does not usually sit at the closing table as the lender of record. A bank, credit union, or mortgage company originates the loan. Federal mortgage insurance is what makes the product “FHA” in consumer language. That insurance is not the same as PMI on a conventional loan. The programs have different rules, costs, and names. This site does not compare them as better or worse. This canary stops at product identity. It does not say who qualifies, what it costs, or how large a loan FHA will insure.

CFPB and Fannie Mae consumer materials support the private-lender-plus-FHA-insurance picture. HUD/FHA handbooks, current limits, MIP schedules, and credit or DTI overlays are outside the reviewed source set. CFPB key-term pages that mention specific down-payment or limit figures are not treated as current program authority.

Lender product mix and household shopping language both use “FHA” as a type. A glossary that reprinted stale percentages would present guesswork as rules.

A local mortgage company originates a purchase loan and the file is an FHA-insured loan rather than a conventional loan. The example states no down-payment percentage, no MIP rate, and no county limit.

• Conventional loan
• Mortgage
• Private mortgage insurance

• Conventional loan

Detailed FHA program rules can change. This page does not state current eligibility, loan limits, or insurance-cost requirements because official HUD/FHA program sources are not yet in the reviewed set. That is a source-scope limit (`PROGRAM_DETAILS_CURRENTLY_DEFERRED`), not a judgment about the FHA program.