Definition
FHA Loan
A mortgage insured by the Federal Housing Administration, permitting lower credit scores and 3.5% down, with mortgage insurance that is permanent on most current loans.
Nearby terms
Escrow Waiver
An arrangement in which the borrower pays taxes and insurance directly rather than through a lender-held account.
Fannie Mae
The Federal National Mortgage Association, a government-sponsored enterprise that purchases conforming loans and sets widely used underwriting guidelines.
FICO Score
The credit scoring model most widely used in lending.
First Lien
The mortgage with priority over all other liens, paid first in a foreclosure.
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