What types of properties does the FHA 203(b) cover?

The FHA 203(b) program is specifically designed to assist buyers in obtaining financing for a wide range of residential properties. This includes one-to-four unit owner-occupied dwellings, which aligns perfectly with the focus of the FHA program to promote homeownership. By allowing financing for homes that range from a single-family residence to a fourplex, the FHA 203(b) program provides opportunities for individuals and families to purchase homes and potentially live in properties with rental units for additional income, provided they occupy one of the units themselves.

This focus on owner-occupied dwellings is key to addressing the housing needs of individuals and families, and it helps stimulate local economies by supporting homeowners in achieving stability and investment in their communities. Thus, the designation of one-to-four unit owner-occupied dwellings as the correct answer reinforces the program's goal to make housing accessible while promoting responsible lending and homeownership.