Federal Housing Administration
|
Federal Housing Administration |
|
|---|---|
 |
|
| State level | Federation |
| Supervisory authority | United States Department of Housing and Urban Development ( US Department of Housing and Urban Development ) - Office of Housing |
| founding | 1934 |
| Web presence | www.fha.gov |
The Federal Housing Administration is a subsidiary of the US Department of Housing and Urban Development that provides funds for house construction and purchase. The program, which was introduced as part of the New Deal in 1934 , is intended to enable lower-income people to own their own house.
In most cases, the funds are distributed as a comparatively cheap loan ( FHA loan ) or as a direct support payment. The loans are characterized by the fact that they have lower interest rates than would be possible on the free capital market. If a potential house builder qualifies for an FHA loan, he can also be granted loans that would not be available or only at significantly less favorable terms due to an excessively high credit risk on the capital market .
Several companies founded by the US government emerged around the FHA, which act in the context of the FHA measures on the capital market and thus improve the financial resources of the FHA: Fannie Mae , Freddie Mac and Ginnie Mae and the FHL banks .
After the end of the Second World War , the FHA's housing subsidy was responsible for the fact that there was hardly any modern home construction in the USA . In particular, the FHA rejected avant-garde architectural styles such as International and Contemporary , with the result that many banks withheld loans from war veterans and other builders who submitted non-conservative building designs or those that were only moderately modern ("Bankers modern": Minimal Traditional , Ranch , split level ). As a result, residential architecture in the United States has been dominated by conservative architectural styles such as B. the Millennium Mansion .
Acting Commissioner
- Biniam Gebre 2014–
- Carol Galante 2011-2014
- David Stevens 2009-2011
Web links
Individual evidence
- ^ Virginia Savage McAlester: A Field Guide to American Houses. The Definite Guide to Identifying and Understanding America's Domestic Architecture . 2nd Edition. Knopf, New York 2013, ISBN 978-1-4000-4359-0 , pp. 548 f .