Federal Housing Administration and HUD Office of Housing’s Post

The FHA 203(k) loan program has long been one of the best counter cyclical loan programs in the mortgage banking industry when the country and homeowners have needed it to access affordable housing. The changes announced today by HUD were much needed and are much appreciated by the mortgage banking industry. Of all of the changes made I think the biggest one is that lenders will be able to provide more home improvements to homes in rural areas and where there are not a lot of FHA 203(k) Consultants to facilitate Standard 203(k) loans. Great progress for all. Attributed to Jim Bopp.

Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

🤔 Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

🤔 Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

🤔 Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

🤔 Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

🤔 Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

🤔 Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths

🤔 Did you know? There's a common misconception that mortgage insurance only benefits the lender. 🏦 But here's the truth: Mortgage insurance actually provides valuable protection for both lenders and borrowers. While it does protect the lender in case of default, it also allows borrowers to purchase a home with a lower down payment, making homeownership more accessible. So next time you hear this, you'll know it's a myth! 🏡💡 #MythBusted #MortgageInsuranceFacts #HomeownershipTruths