The FHA loans are for mortgages up to $500,000 and can be refinanced at a 4.8% rate.

They are offered to people with incomes up to 138% of the median income, or $45,400 for an individual.

They were introduced to make it easier for the government to offer mortgages to people in a more affordable area.

The government has a goal of making up to 1.4 million mortgage applications each year, and about 400,000 of those are refinancings.

For more information on the FHA, visit the Department of Housing and Urban Development.