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.

1. F ederal H ousing A dministration Created By: Amber, Arthurline, Caroline, & Patricia

2. “ F H A” Choose FHA!

3. Qualifications Have a positive credit history spanning the last two years. Show consistent or increasing income. Have a steady employment record (two years or more with the same employer is perfect). Have no bankruptcies in the last two years. Keep the mortgage payment at approximately 30% of their gross income or less.

4. Pros Of

5. CREATION 1934 HUD-1965

6. WHY? Reform America Access to affordable homes

7. SERVED... 1940’s 1950’s-60’s-70’s Everyone

8. People It Served !

9. Purpose FHA Does Not Make Loans!

10. Achievements Insured 34 million homes Provided homes

11. Cons There are limits to how much a person can borrow.

12. Bibliography The Federal Housing Administration (FHA).&quot; Housing and Urban Developments . 6 Sept 2006. U.S. Department of Housing and Urban Development, Web. 15 Feb 2010. < http://www.hud.gov/offices/hsg/fhahistory.cfm > Cornett, Brandon. “Pros and Cons of FHA Loans for Home Buyers”. First-Time Buyer Blog. 9 Feb. 2010 http://www.cornettcommunications.com/blog/pros-and-cons-of-fha-loans-for-home-buyers/ “ Looking back at the origins of FHA”. 9 Feb. 2010 http://1.bp.blogspot.com/_3r6sJNDbb 0w/SvwZj55bNtI/AAAAAAAAFUk/cEiOBmbWsfQ/s400/FHA+Woman%27s+Day.jpg New Deal Timeline. Chronology. 9 Feb. 2010 http://xroads.virginia.edu/~MA02/volpe/n ewdeal/timeline_text.html “ No More FHA Spot Approval for Condos.” 19 Aug. 2009. 9 Feb. 2010. http://ctrealestateunleashed.com/wp-content/uploads /2009/08/fha-logo.jpg “Pros and Cons of FHA Loans”. Financial We b. 9 Feb. 2010 http://www.finweb.com/mortgage/pros-and-cons-of-fha-loans.html “ What is an FHA Loan?” FHA. 9 Feb. 2010 http://www.f ha.com/fha_loans.cfm “What is FHA? FHA Mortgage Requirements”. FHA Loan Pros. 9. Feb. 2010 http://www.fhaloanpros.com/what-is-fha/ http://arizonarealestatehome.com/wp- content/uploads/2009/11/hud-logo.jpg

13. ACKNOWLEDGEMENTS Amber Housley Arthurline Bowen Caroline AbdulBaki Patricia Parker