|
gptkbp:instanceOf
|
mortgage loan
|
|
gptkbp:administeredBy
|
gptkb:U.S._Department_of_Housing_and_Urban_Development
|
|
gptkbp:allows
|
gifted down payment
non-occupant co-borrowers
|
|
gptkbp:assumable
|
yes
|
|
gptkbp:downPaymentRequirement
|
as low as 3.5%
|
|
gptkbp:establishedBy
|
gptkb:National_Housing_Act_of_1934
|
|
gptkbp:filingMethod
|
15 or 30 years
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
FHA loan
|
|
gptkbp:insuredBy
|
gptkb:Federal_Housing_Administration
|
|
gptkbp:maximumLoanAmount
|
varies by county
|
|
gptkbp:minimumCreditScore
|
minimum 580 for 3.5% down payment
500-579 for 10% down payment
|
|
gptkbp:prepaymentPenalty
|
none
|
|
gptkbp:prohibits
|
investment properties
vacation homes
|
|
gptkbp:property
|
primary residence
1-4 unit properties
|
|
gptkbp:refinancingOptions
|
gptkb:FHA_Cash-Out_Refinance
gptkb:FHA_Streamline_Refinance
|
|
gptkbp:requires
|
FHA-approved lender
FHA appraisal
U.S. citizenship or legal residency
debt-to-income ratio assessment
mortgage insurance premium
proof of steady income
|
|
gptkbp:targetAudience
|
first-time homebuyers
low-to-moderate income borrowers
|
|
gptkbp:usedFor
|
home purchase
home refinancing
|
|
gptkbp:bfsParent
|
gptkb:FHA
gptkb:Section_203(b)_program
|
|
gptkbp:bfsLayer
|
5
|