What is the primary goal of the FHA Loan Program?

The primary goal of the FHA Loan Program is to increase homeownership for the average American. This is achieved by offering mortgage insurance on loans made by approved lenders to borrowers with low to moderate incomes. The program is designed to make home buying more accessible by allowing lower down payments and accommodating lower credit scores compared to conventional loans. By reducing the barriers to homeownership, the FHA Loan Program aims to help more individuals and families secure a mortgage and buy homes, thereby contributing to the overall growth of homeownership in the country.

The other options focus on aspects that are not central to the FHA's mission. For instance, while investment properties and builder incentives can benefit from various financing programs, they are not the primary intention of the FHA. Similarly, decreasing loan processing times might improve efficiency but does not reflect the fundamental goal of addressing homeownership accessibility. The program is centered around helping the average American navigate the challenges of purchasing a home, making it an essential tool for achieving that objective.