An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

FHA Loan

A mortgage insured by the Federal Housing Administration, which allows lenders to offer loans with more lenient requirements, often to first-time homebuyers or those with lower credit scores.

VA Home Loan

A mortgage loan guaranteed by the U.S. Department of Veterans Affairs, available to eligible veterans, service members, and their surviving spouses, often with no down payment or private mortgage insurance requirements.

Uniform Residential Loan Application (URLA)

A standardized form used by most mortgage lenders in the United States that gathers detailed financial and personal information from borrowers applying for a home loan.

Disclosure

A document or statement providing important information about a product, service, or transaction, legally required to be given to consumers.

Prevailing Interest Rates

The most common or current interest rates being offered by lenders for a particular type of loan at a given time.

Federal Housing Finance Agency (FHFA)

An independent federal agency that regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks, which are significant players in the U.S. housing finance system.