The National Association of Realtors (NAR) was joined by Department of Housing and Urban Development Secretary Steve Preston last week as NAR launched its new Federal Housing Administration Toolkit. Realtors can use the toolkit to help buyers obtain safe and affordable FHA-backed mortgages.
FHA loans offer low down payments, competitive interest rates and greater flexibility than most conventional mortgages. In addition, the Housing and Economic Recovery Act of 2008 made increased FHA loan limits permanent, allowing more buyers in high-cost areas to obtain FHA-backed mortgages.
The FHA Toolkit includes a video of frequently asked questions, a flash media presentation of FHA programs, brochures and other reference guides and links to other useful resources. For more information about recent changes to FHA programs, visit the FHA Resources section of REALTOR.org.