The FHA 203(b) program provides mortgage insurance to lenders to protect against borrower default and is commonly used to finance the purchase of new or existing one- to four-family housing.
An FHA Mortgage Loan is a mortgage loan insured by the Federal Housing Administration (FHA), designed to help lower and moderate-income individuals qualify for homeownership. This type of loan allows borrowers to make a lower down payment and can be more lenient on credit scores compared to conventional loans.
