RAD

MIP: Mortgage Insurance Premiums in Relation to HUD 223f Loans

MIP: Mortgage Insurance Premiums in Relation to HUD 223f Loans

Before being approved for a HUD Multifamily loan, a borrower must have mortgage insurance. HUD-requires borrowers to pay MIP (Mortgage Insurance Premium) on FHA loans. This insurance policy is not to be confused with PIM (private mortgage insurance) which is required on some conventional mortgage loans.

RAD: Rental Assistance Demonstration in Relation to HUD 223f Loans

RAD: Rental Assistance Demonstration in Relation to HUD 223f Loans

The RAD (Rental Assistance Demonstration) Program gives PHAs (public housing authorities) the power to “preserve and improve public housing properties.” RAD also allows them to address the $26 billion dollar deferred maintenance backlog across nation.