The Federal Housing Administration (FHA) expects to issue in the next 90 days a request for information from the public to update its 203K program, a step to address the current affordability crisis by boosting the supply of homes.

“We’re looking at revamping the 203k program,” Julienne Joseph, deputy assistant secretary in the Office of Single-Family Housing for FHA at the U.S. Department of Housing and Urban Development (HUD) said Tuesday during the 2022 HousingWire Annual event held in Scottsdale, Arizona.

According to Joseph, homes needing renovation can be “daunting,” especially for first-time homebuyers looking for something that is turnkey.

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