Rehabilitation Mortgage Insurance Program

by: Iola Bonggay

The Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.

HUD's work is mostly geared towards the creation of strong and sustainable communities that contain safe and affordable homes for everyone.

One of HUD's programs is the Rehabilitation Mortgage Insurance Program wherein they intend to financially assist families as they repair or improve, purchase and improve, or refinance and improve their current residential properties that have been existent for more than a year.

The Rehabilitation Mortgage Insurance Program works in such a way that will make it easier for families to apply for home repair mortgages.

The Department of Housing and Urban Development will form partnerships with credible lending institutions in order to make it possible for families to participate in the Rehabilitation Mortgage Insurance Program.

The funds that will be loaned out under the Rehabilitation Mortgage Insurance Program can be used to rehabilitate existing dwelling in one of four ways, including:

a) Purchasing an existing structure and the land on which the structure is located and rehabilitating it

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Rehabilitation Mortgage Insurance Program
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About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Delaware
In the year 1968, The Delaware State Housing Authority was created as a public corporation under the Delaware State Department of Housing. The move was inspired by the need to address the concerns of the people in Delaware who seek homebuying-associated assistance.

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Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency, more commonly referred to as PHFA, is an independent agency that was established in the year 1972 in an effort to contribute to the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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First Time Homebuyer Programs in Virginia
In 1972, the Commonwealth of Virginia has constituted the establishment of the Virginia Housing Development Authority in an effort to respond to the needs of Virginians who seek quality, affordable housing.

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Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
In accordance with this mission, the Connecticut Housing Finance Authority has established the Urban Rehabilitation Homeownership Program wherein it intends to home purchase loans at steady, below-market rates together with home improvement loans with no interest, all in an attempt to support homeownership and investment in selected Connecticut neighborhoods.

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