HUD's Federal Housing Administration Mortgage Insurance (Section 203(b))

house mortgage insurance

Mortgage Insurance For

(Section 203(b)) - HUD

Summary:

T hrough this program, HUD's Federal Housing Administration (FHA) insures mortgages made by qualified lenders to people purchasing or refinancing a home of their own.

Purpose:

F HA's mortgage insurance programs help low- and moderate-income families become homeowners by lowering some of the costs of their mortgage loans. FHA mortgage insurance also encourages lenders to make loans to otherwise creditworthy borrowers and projects that might not be able to meet conventional underwriting requirements, by protecting the lender against loan default on mortgages for properties that meet certain minimum requirements--including manufactured homes, single-family and multifamily properties, and some health-related facilities.

Section 203(b) is the centerpiece of FHA's sing... http://cheap-insurance.ucoz.com/news/house_mortgage_insurance/2013-06-13-3101