The Federal Housing Administration (FHA) is a government agency established in 1934 to improve housing standards and conditions. It provides mortgage insurance on loans made by approved lenders, making it easier for individuals to qualify for home loans. This support helps promote homeownership, especially for first-time buyers and those with lower incomes. The FHA's insurance protects lenders against losses if borrowers default on their loans. This encourages lenders to offer loans with lower down payments and more flexible credit requirements. Overall, the FHA plays a crucial role in making homeownership accessible to a broader range of people in the United States.