203(b), Glossary and Terms, Mortgage Brokers, Banks US

U.S Mortgage Brokers Mortgage Brokers, Banks US, Rate, Review, Remortgage

"203(b)"

FHA's single family program which provides mortgage insurance to lenders to protect against the borrower defaulting; 203(b) is used to finance the purchase of new or existing one to four family housing; 203(b) insured loans are known for requiring a low down payment, flexible qualifying guidelines, limited fees, and a limit on maximum loan amount.

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