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Many people searching for a mortgage to purchase their first home often ask, "What is an FHA loan? FHA loans can be offered by the government and have easier credit requirements and low down payments. Understanding what an FHA mortgage is will allow people to determine whether or not they fit the eligibility profile of applying for a mortgage that will let them qualify. Moreover, questions such as 'what is the FHA and what is its role in helping people get homes through approved lenders' also come up.