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Directory of NYC Housing Programs

Federal Housing Administration Mortgage Insurance Programs (FHA Mortgage Insurance)

The U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) offers a suite of mortgage insurance and loans for homeowners made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single-family and multi-family homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 47.5 million properties since its inception in 1934. FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner’s default. Loans must meet certain requirements established by FHA to qualify for insurance. These programs include:

Section 5(h) - Homeownership Program
Section 203(b) - Basic Home Mortgage Loan
Section 203(h) - Mortgage Insurance for Disaster Victims
Section 203(k) - Rehabilitation Mortgage Insurance (Dreambuilder’s Mortgage)
Section 207, 223(f), and 223(e) - Mortgage Insurance for Purchase or Refinancing of Existing Multifamily Rental Housing
Section 213 - Mortgage Insurance for Cooperative Housing
Section 220 - Mortgage Insurance for Rental Housing for Urban Renewal and Concentrated Development Areas
Section 221(d)(3) and (4) - Mortgage Insurance for Rental and Cooperative Housing for Moderate-income Families
Section 231 - Mortgage Insurance for Rental Housing for the Elderly
Section 232 - Mortgage Insurance for Nursing Homes, Intermediate Care, Board & Care and Assisted-living Facilities
Section 234(c) - Mortgage Insurance for Condominium Units
Section 236 - Preservation Program
Section 241(a) - Mortgage Insurance for Supplemental Loans for Multifamily Projects and Health Care Facilities
Section 542(b) - Qualified Participating Entities Risk-Sharing Program (QPE)
Section 542(c) - Housing Finance Agency (HFA) Risk Sharing
Title I - Property Improvement Loan Insurance

Program Information Help Icon

  • Alternative Name(s): HUD Insurance Program, FHA Loan Insurance, FHA Loans, Federal Housing Administration Loans, FHA-insured Loans
  • Supply/Demand: Supply, Demand
  • Category: Land and Financing
  • Scale: Very Large Scale (over 10,000 units)
  • Timeframe: 1934 - Present
  • Occupancy tenure: Homeownership
  • Building Type: Single-family, Multi-family
  • Developers/Owners: Owner-occupant

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