What is the primary FHA mortgage insurance program?

Section 203(b) is the centerpiece of FHA's single-family mortgage insurance programs and is the most commonly used program.  It is available in all areas of the country, provided a market exists for the property and the home meets HUD's Minimum Property Standards.  It may be used to purchase or refinance a new or existing one-to-four family home in both urban and rural areas including manufactured homes on permanent foundations.  Typically, lenders offer terms at 15 or 30 years, and interest rates are negotiated between the borrower and lender.   
FHA insured mortgages offer many benefits and protections that only come with FHA.  More information about purchasing a home using FHA financing or avoiding foreclosure is available on HUD's websites at: 

Buying a Home https://www.hud.gov/topics/buying_a_home  

You may also wish to contact a HUD approved housing counseling agency in your area for unbiased counseling on your particular situation.

HQ Policy Determination


All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.

Topic Number: KA-02719