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.
An FHA loan is available with fixed rates or as an adjustable-rate mortgage. FHA loans are insured by the Federal Housing Administration (FHA) and may have an easier qualification process due to less stringent down-payment and credit requirements than conventional mortgages.