1 This is not a debit or a prepaid card. 2  Your secured credit card activity is shared with major credit bureaus to help build your credit history. 3  With responsible use over time, you may be eligible for an upgrade to an unsecured credit card. 4  You are responsible for making at least the minimum monthly payment, on time.
DEFINITION of 'FHA Loan'. A mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment.FHA loans allow the borrower to borrow up to 97% of the value of the home.EFINITION of 'FHA Loan'. A mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment. FHA loans allow the borrower to borrow up to 97% of the value of the home.
Important FHA Guidelines for Borrowers. The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories.