FHA loan product examples include which of the following?

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Multiple Choice

FHA loan product examples include which of the following?

FHA loan products are mortgages that are insured by the Federal Housing Administration. They include cash-out refinances, the Home Equity Conversion Mortgage (HECM), which is a reverse mortgage, and the FHA Streamline Refinance. The other options describe loan types that aren’t FHA products—conventional loans with a HELOC are not FHA insured, jumbo loans with interest-only payments are typically conventional, and student loans are not mortgages. So the set that lists cash-out refi, HECM, and Streamline refi best represents FHA loan product examples.

FHA loan products are mortgages that are insured by the Federal Housing Administration. They include cash-out refinances, the Home Equity Conversion Mortgage (HECM), which is a reverse mortgage, and the FHA Streamline Refinance. The other options describe loan types that aren’t FHA products—conventional loans with a HELOC are not FHA insured, jumbo loans with interest-only payments are typically conventional, and student loans are not mortgages. So the set that lists cash-out refi, HECM, and Streamline refi best represents FHA loan product examples.

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