What is FHA Financing? - Definition & Requirements

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question 1 of 3

The federal housing administration ____ loans.

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1. What's the minimum down payment for FHA financing?

2. Ben is obtaining FHA financing. Which of the following may be his lender?

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About This Quiz & Worksheet

Federal Housing Administration (FHA) financing refers to loans made by FHA approved lenders. The quiz measures your knowledge of FHA loan components and requirements.

Quiz & Worksheet Goals

The quiz requires you to:

  • Identify what the federal housing administration does with loans
  • Give the minimum down payment percentage for FHA financing
  • Note a common FHA lender
  • Know the extra cost added to a monthly FHA loan payment
  • Know the characteristics of an FHA loan

Skills Practiced

  • Knowledge application - utilize your knowledge to name the institution that typically funds FHA loans
  • Information recall - consult your understanding of the lesson to give the minimum down payment required to receive FHA financing
  • Reading comprehension - ensure that you can pull the most essential information from the accompanying lesson

Additional Learning

You can learn more about FHA loans by studying the lesson called What is FHA Financing? - Definition & Requirements. The lesson is centered on the following objectives:

  • Describe the qualifications for obtaining FHA financing
  • Name the advantages and disadvantages of FHA loans
  • Understand the purpose of mortgage insurance premiums
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