The Federal Housing Administration (FHA) was created in 1934 to reform America and provide access to affordable homes. The FHA insured over 34 million homes and helped provide homes for everyone during the 1940s-1970s. While the FHA does not make loans directly, it sets qualifications for borrowers including a positive credit history, consistent income, steady employment, no recent bankruptcies, and keeping mortgage payments below 30% of gross income. The FHA helps make home ownership possible through insuring loans but there are limits to how much can be borrowed.