FHA Unveils Their Homeowners Armed with Knowledge (HAWK) Program

In an effort to expand mortgage credit access for American families, the Federal Housing Administration (FHA) unveiled their most recent pilot program, Homeowners Armed with Knowledge (HAWK). The 4-year pilot program is designed to serve two purposes. First, the HAWK program would expand credit access to first-time homebuyers who are willing to commit to housing counseling and would incentivize them by offering savings of “approximately $325 a year – or almost $9,800 over the life of their loan.” Second, the FHA’s endeavors to enhance the transparency and clarity in their policies would instill confidence in their mortgage lender partners, thus encouraging lending “across the entire credit spectrum – especially to under-served borrowers.”

Read the full press release from the FHA’s Assistant Secretary for Housing and Commissioner, Carol Galante, and learn more about the FHA’s Access Blueprint and HAWK program at http://1.usa.gov/1gEmMDN.

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