These are HUD home financing types that describe the FHA insurability of a property.
| “IN” Insurable 203(b) Regular FHA Loan |
This means the property meets FHA 203(b) financing requirements; no obvious repairs necessary to insure an FHA loan to buyer. |
| “IE” Insurable with Repair Escrow 203(b) – Repair Escrow |
This means the property is eligible for a 203(b) FHA loan and that necessary repairs do not exceed $5,000. |
| “UI” Uninsured | This means the property requires extensive repairs exceeding $5,000. These properties are eligible for an FHA 203(k) mortgage if the required repairs and or the improvements are completed within 90-days of the closing. |
| “203K” Streamlined 203(k)Limited Repair Program |
FHA’s Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this new product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. |