Federal Housing Administration (FHA)

Founded in 1934 to improve housing standards and conditions and to stabilize the mortgage market and financing systems, the FHA was consolidated into the Department of Housing and Urban Development in 1965.

The FHA's mission today is to

• contribute to the building and preservation of healthy neighborhoods and communities
• maintain and expand homeownership, rental housing, and healthcare opportunities
• stabilize credit markets in times of economic disruption
• operate with a high degree of public and fiscal accountability and
• recognize and value its customers, staff, constituents and partners.

The FHA accomplishes this through a variety of programs, initiatives and methods, including:

• The National Homeownership Strategy: This initiative focuses on helping minorities and first-time homebuyers by making more loans available to them.

• Manufactured Housing: In this area the FHA has worked with the industry to ensure that all manufactured homes meet enhanced safety standards.

• Home Equity Conversion Mortgage (HECM): By expanding this program the FHA helps allow elderly homeowners in need of income to draw on the equity of their home without having to move out.

• FHA Connection: This secure Web site helps lenders submit information concerning their insurance endorsements electronically. FHA homeowners can also access information about mortgage insurance premium refunds on this site.

• Safe Neighborhood Action Plan (SNAP): Created in 1995, SNAP partners the FHA with the U.S. Conference of Mayors and the National Assisted Housing Management Association to help improve urban neighborhoods.

• Neighborhood Network Centers: Located in rental projects, these centers help residents become more self-sufficient and employable by teaching computer skills on equipment donated by area colleges and businesses.

• Officer Next Door Program: The FHA offers discounted homeownership opportunities to law enforcement officers in an effort to make neighborhoods safer.

• Multifamily Housing: The FHA also helps develop an affordable rental market by designing and implementing several Multifamily Housing programs.

Click here to learn more about FHA programs.