HUD has released its fiscal year-end FHA loan endorsement figures for 2010 (year ending September 31, 2010). As you can see by the chart below the number of 203k loans insured in 2010 was in excess of 22,000. Over the past five years the 203k has seen an increase in production from 2,924 loans in 2006 to 22,491 closed loans in 2010.
The FHA 203k is a valuable tool for financing homes in today's residential real estate market. Take the time to learn the basics and find a team of 203k professionals (a lender, 203k consultants and 203k contractors) that can help you increase your sales production.