203(b), Mortgage Brokers, Banks US, Rates, Refinancing term

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203(b) - Mortgage Glossary Terms and Abbreviations

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.

Mortgage glossary and terms by letter

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