How Private Lenders Cooperate with the Federal Housing Administration

The Federal Housing Administration remains a key source of support for American home buyers. For nearly ninety years, the agency has been furthering the cause of home ownership in the United States by underwriting lending and opening up new opportunities for borrowers in the process.

It does so today mostly through its various partnerships with private sector lenders and loan servicing companies. As those who find Dustin Dimisa online will see, the cooperation that results benefits families all across the country in many ways.

A Private Lender That Works Closely with the FHA

Dimisa co-founded InterContinental Capital Group over a decade ago and has since led the lender to prominence in the industry. With somewhere around $20 million in new loans being issued in the average month, InterContinental maintains the kind of responsible, informed stance on lending that the FHA always strives to encourage.

As a result, the company has become a top facilitator of loans backed by the FHA. By always living up to the agency’s lending standards and keeping borrowers informed along the way, it helps make buying a home more practical and realistic for many.

A Number of Different FHA Lending Options Tailored to Various Goals

The FHA actually supports a variety of different kinds of loans, each of which comes with particular requirements. The most popular of its loan guarantee programs include those aimed at:

  • First-time home buyers: The single most widely utilized FHA borrowing program of all, this type of financing is available only to those who have not bought a home in the past few years. As with other FHA programs, only those who plan to live in their new homes are eligible, as well.
  • Those interested in home equity conversion: Older homeowners often find themselves wishing to turn some of the equity they have accumulated into cash that can be used for other purposes. The FHA supports these individuals, as well.
  • Homeowners seeking money for repairs: Even homeowners who have no trouble keeping up with their mortgage payments sometimes struggle to pay for necessary repair work. Once again, an FHA program assists people in this group, as well.

With private lenders cooperating with the FHA to make such programs available, home buyers and owners nationwide can count on plenty of support. That helps make owning a home more practical to many.