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What
is the purpose of this program?
To provide mortgage insurance for a person to purchase or refinance a
principal residence. The mortgage loan is funded by a lending
institution, such as a mortgage company, bank, savings and loan
association and the mortgage is insured by HUD.
What
are the eligibility requirements?
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The borrower must meet standard FHA credit qualifications.
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The borrower is eligible for approximately 97% financing. The
borrower is able to finance the upfront mortgage insurance premium
into the mortgage. The borrower will also be responsible for paying
an annual premium. |
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Eligible properties are one-to-four unit structures. |
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To learn more about the mortgage limits in your area, go
here. |
For More Information
Contact FHA approved lenders in your area. Names of lending institutions
can be found in the yellow pages of the telephone directory under the
heading of "Mortgages." or you can
search for an FHA lender on HUD's website. |
