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For the below - I do NOT have any of these loan products - so indicate that but right about a couple things.
The Federal Housing Administration (FHA) has four frequently used mortgage products. Those products are:
1. Section 203(b) One-Family to Four-Family Mortgage Insurance;
2. Section 203(k) Rehabilitation Mortgage Insurance;
3. Section 251 Insurance for Adjustable-Rate Mortgage; and
4. Streamline Refinance
Please read about these 4 FHA programs.
Discuss with the class how your choice operates. If you have one of these loan products, please feel free to discuss how the product impacted your real estate financing experience.
Why are mortgage products like these offered by the FHA, and what are their relationships to traditional mortgage products offered by conventional mortgage lenders?