Home, sweet home! The Biden-Harris Administration is devoted to making the American dream attainable, even in these uncertain times. From helping close racial disparities and offering financial stability to passing down generational wealth – a roof over your head has never been more accessible thanks to their commitment.

The U.S. Department of Housing and Urban Development is making owning a home more achievable. The Federal Housing Administration announced on February 22, 2023, an annual mortgage insurance premium reduction that translates to considerable savings – on average, around $800 per year! This cost-saving move joins HUD’s initiatives to make homeownership attainable for all Americans – now seize this momentous opportunity!

  • On February 22, 2023, the FHA made a decisive move to significantly reduce annual premiums for mortgage insurance – giving American homebuyers more financial freedom. A median-priced US home of $467,700 at that time would have saved over $1,400 annually – ultimately reducing costs by an estimated staggering 600 million in one year alone and many billions within 10 years!
  • In September 2022, FHA made it easier for first-time homebuyers to connect with affordable mortgage financing. Its new underwriting policies allow lenders to consider positive rental history when evaluating the creditworthiness of applicants – so dreams of homeownership can become a reality! With this change, FHA has created even more opportunities and pathways toward achieving one’s goals as a homeowner.
  • In June 2022, HUD’s Office of Housing revolutionized the housing counseling experience for consumers. Offering online and telephonic search capabilities, anyone in need can quickly access over 1,500 HUD-approved agencies and their 4,000 certified counselors – all with translation services available in more than 250 languages! Serving an average of 3,000 people per day with advice related to homeownership/financial literacy planning; rental assistance; foreclosure avoidance or eviction prevention; reverse mortgages; and overall housing stability matters has never been more accessible.
  • FHA is making it easier for home buyers with student debt to pursue their dreams of homeownership! In June 2021, they announced an updated policy that uses the actual monthly loan payment amount when calculating FHA-insured mortgage eligibility. This smart move provides more access to affordable mortgages and removes barriers so creditworthy individuals can confidently walk through the front door of their new home.
  • In November 2022, Secretary Marcia L. Fudge rocked the digital world with “The HUD House Party,” where she presented innovative solutions to ensure homeownership remained accessible and attainable for all. The festivities attracted over 4,000 social media viewers eager to learn more about programs like FHA-insured mortgages, housing counseling services, and resources against housing discrimination – giving everyone a chance to achieve their dream home!


To find a housing counselor Search the Map (https://hudgov-answers.force.com/housingcounseling/s/) or Search by Zipcode (https://hudgov-answers.force.com/housingcounseling/s/), or call HUD’s interactive voice system at: (800) 569-4287. Consumers can also contact a HUD Approved National Housing Counseling Intermediary or State Housing Finance Agency (/program_offices/housing/nationally_hud_approved_housing_counseling_agenciesdirectory).