HUD Handbook 4000.1 II.A.2
HUD Handbook 4000.1 Part II.A.2 (Allowable Mortgage Parameters) for Title II Insured Housing Programs Forward Mortgages. Covers basic creditworthiness/capacity/capital determination, maximum mortgage amounts under Nationwide Limits, LTV, Minimum Required Investment (MRI), and UFMIP/financing requirements.
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Verbatim provisions from HUD Handbook 4000.1 II.A.2 — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
HUD Handbook 4000.1 II.A.2 — Underwriting Standard
Mortgagee must determine the Borrower’s creditworthiness, capacity to repay, and available capital to support the Mortgage.
HUD Handbook 4000.1 II.A.2 — Minimum Required Investment
The Mortgagee must review the credit report to determine the Borrower’s Minimum Decision Credit Score (MDCS), except for Mortgages to be insured under Section 247, Section 248, Streamline Refinances, and Assumptions.
HUD Handbook 4000.1 II.A.2 — Maximum LTV
The Mortgagee must apply the lowest applicable LTV percentage as determined under the requirements in this section.
HUD Handbook 4000.1 II.A.2 — UFMIP
The UFMIP must be entirely financed into the Mortgage or paid entirely in cash. Any UFMIP amounts paid in cash are added to the total cash settlement requirements.
HUD Handbook 4000.1 II.A.2 — Mortgage Amount Rounding
The mortgage amount must be rounded down to the nearest whole dollar amount, regardless of whether the UFMIP is financed or paid in cash.
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Source of record: https://claudeforcompliance.com/regs/hud-4000-1-ii-a-2/
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