 TITLE: What Is an FHA Loan? CONTENT: How FHA Loans Work\n------------------\nFHA loans are mortgages that are insured by the U.S. government (the Federal Housing Administration, more specifically), but you obtain one by applying through an FHA-approved mortgage lender. This could be a bank, credit union or online lender like Quicken Loans.\nFHA loans are considered slightly more risky to the lender since borrowing criteria is less strict, so the government backs the loan to reduce the lender's risk, and you have to pay insurance for the life of the loan. If you qualify for an FHA loan (more on that below), you can apply through any FHA-approved mortgage lender. The amount you can borrow with an FHA loan depends on where you live, since housing costs vary greatly across the country. END