Not Applicable.

Uses and Use Restrictions

HUD insures lenders against loss on mortgage loans.

These loans may be used to finance the purchase of proposed, under construction, or existing one-to- four-family housing, as well as to refinance indebtedness on existing housing.

Maximum insurable loans are as follows: In areas where 115 percent of the median house price is less than 65 percent of the National Conforming loan limit ($417,000), FHA ?floor? limits are set at the 65 percent limit as follows: one-family $271,050; two-family $347,000; three-family $419,425; and four-family $521,250.

Any area where the limits exceed the floor is known as a ?high cost? area.

In areas where 115 percent of the median house price exceeds 150 percent of the National Conforming Loan llimit for a one unit property, the mortgage limits are set at the 150 percent amount (ceiling)as follows: one-family $625,500; two-family $800,775; three-family $967,950 and four-family $1,202,925.

Designated areas of limited housing opportunities and maximum mortgage amounts may be obtained from local HUD Offices.

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Eligibility Requirements

Applicant Eligibility

All persons with a valid Social Security Number are eligible to apply.

State and local government agencies, HUD approved non-profit organizations and individuals employed by the Work Bank or a foreign embassy are not required to provide a Social Security number.

Beneficiary Eligibility

Individuals/families.

Credentials/Documentation

Documentation regarding the characteristics of the property and the qualifications of the mortgagor are assembled by the mortgagee and submitted with the application. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.

Aplication and Award Process

Preapplication Coordination

Preapplication coordination is not applicable.

Environmental impact information is not required for this program.

This program is excluded from coverage under E.O.

12372.

Application Procedures

This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Application is submitted for review and approval or disapproval to the local HUD Field Office through a HUD-approved lending institution. In addition, certain lending institutions have been approved to review applications and issue an approval or rejection, without additional HUD intervention. This program is referred to as Direct Endorsement.

Award Procedures

Application is submitted for review and approval or disapproval to the local HUD Field Office through a HUD approved lending institution. In addition, certain lending institutions have been approved to review applications and issue an approval or rejection, without additional HUD intervention. This program is referred to as Direct Endorsement.

Deadlines

Not Applicable.

Authorization

National Housing Act, as amended, Section 203(b), Public Law 73-479, 12 U.S.C. 1709, 1715(b).

Range of Approval/Disapproval Time

Varies.

Appeals

The lender or HUD will state the reason for refusing an application. The applicant may reapply subject to concurrence of the lender.

Renewals

Not Applicable.

Assistance Considerations

Formula and Matching Requirements

This program has no statutory formula. Matching requirements are not applicable to this program. MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

The mortgage term may extend for 30 years. Method of awarding/releasing assistance: lump sum.

Post Assistance Requirements

Reports

Not Applicable.

Audits

Not Applicable.

Records

Mortgagees are required to service and maintain records in accordance with acceptable mortgage practices of prudent lending institutions and the FHA regulations.

Financial Information

Account Identification

86-4587-0-3-371.

Obigations

(Sale, Exchange, or Donation of Property and Goods) FY 15 $212,961,411,747; FY 16 est $209,000,000,000; and FY 17 est $204,000,000,000

Range and Average of Financial Assistance

Maximum insurable loans are as follows: In areas where 125 percent of the median house price is less than 65 percent of the National Conforming Loan Limit ($417,000), FHA ?floor? limits are set at the 65 percent limit as follows: one-family $271,050; two-family $347,000; three-family $419,425; and four-family $521,250. Any area where the limits exceed the floor is known as a ?high cost? area. In areas where 115 percent of the median house price exceeds 150 percent of the National Conforming Loan Limit for a one unit property, the mortgage limits are set at the 150 percent amount (ceiling)as follows: one-unit $625,500; two-unit $800,775; three-unit $967,950; and four-unit $1,202,925.

Regulations, Guidelines, and Literature

100 Questions and Answers About Buying a New Home, no charge; The HUD Home Buying Guide, no charge; Residential Rehabilitation Program, no charge; Fact Sheet: Rehabilitation Mortgage Insurance, no charge. 24 CFR 203.50.

Information Contacts

Regional or Local Office

None. For additional information, individuals are encouraged to contact the FHA Resource Center by phone at 1-800-CALLFHA (1-800-225-5342), by email at answers@hud.gov or visit the FHA Resource Center site at http://portal.hud.gov/hudportal/HUD?src=/FHAFAQ.

Headquarters Office

Wanda L. Sampedro 451 7th Street, SW, Washington, District of Columbia 20410 Email: answers@hud.gov Phone: (800) 225-5342

Criteria for Selecting Proposals

Not Applicable.