1 The deposit is used to open a U.S. Bank savings account to ensure your card can be paid. 2  The savings account is FDIC-insured, earns interest and won't be touched as long as your account remains open and in good standing. 3  Purchases with the SKYPASS Visa Secured Card are billed to you each month as with any credit card.
The Federal Housing Administration, generally known as FHA, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals.
Homebuyers can borrow the FHA's minimum down payment. The Federal Housing Administration provides mortgage insurance for loans made to low- and moderate-income borrowers. The FHA allows borrowers to buy homes with a down payment equal to 3.5 percent of the sales price. The total down payment can be borrowed from sources acceptable to the FHA.