FHA and VA require that defective paint surfaces on dwellings built prior to 1978 must be encapsulated.
An FHA is a government-backed mortgage. An FHA loan or the Federal Housing Administration loan is a government-backed mortgage. An FHA loan easily obtained, but no matter what, the borrower will have to pay the mortgage insurance. In this way, the lender's money is protected from a loss if the borrower defaults out on the loan.
The Veterans ' Administration (VA) or even the USDA Rural Housing Program is, however, accessible by private lenders (banks, credit unions, lending firms) or by government-sponsored businesses, either the Federal government mortgage organisation or the Lending Company Federal Home.
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