Glossary

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We realize some of these industry terms are pretty confusing. Please enter a word (or partial word) or click a letter to view an alphabetical listing of terms.
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HUD

HUD is the U.S. Department of Housing and Urban Development. The Federal Housing Administration (FHA) within HUD insures home mortgage loans made by lenders and sets minimum standards for FHA loans.

As a part of the U.S. government, HUD seeks to promote homeownership and community development in our country.  HUD also works to fight housing discrimination and encourages affordable housing opportunities so that more people have access to housing.

As a means of building and maintaining a presence in communities throughout the nation, HUD partners with local and faith-based organizations.

HUD offers news, announcements and press releases on their web site.  HUD’s Web site, www.hud.gov, offers a wealth of information about housing assistance, mortgages, homeownership, state programs and more.

FHA programs include its 203(b) mortgage, used to purchase homes, the 203(k) program, which is used to construct or rehabilitate a home as a purchase or refinance loan, manufactured home financing and its Home Equity Conversion Mortgage (HECM), which is the FHA reverse mortgage.

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