The Fair Housing Act makes it illegal to harass persons because of race, color, religion, sex (including gender identity and sexual orientation), disability, familial status, or national origin.
In general, the FHA applies broadly to all sorts of housing, public and private, including single family homes, apartments, condominiums, mobile homes, and others. The act's coverage also extends to the secondary mortgage market.
The FHA's three requirements are that a property must be safe, secure, and structurally sound to qualify for one of their loans. Properties cannot have adverse conditions that might imperil the homeowner, and must meet proper building codes.
The Fair Housing Act affords no protections to individuals with or without disabilities who present a direct threat to the persons or property of others.
Among the protected classes are race, color, national origin, religion, sex, familial status, and handicap. However, sexual orientation is not explicitly listed as a protected class under the Fair Housing Act.
The Fair Employment and Housing Act (California Government Code Section 12900-12951 & 12927-12928 & 12955 - 12956.1 & 12960-12976) provides protection from harassment or discrimination in employment because of: age (40 and over), ancestry, color, creed, denial of family and medical care leave, disability (mental and ...
The Federal Housing Administration (FHA) administers a program of loan insurance to expand homeownership opportunities. FHA provides mortgage insurance to FHA-approved lenders to protect these lenders against losses if the homeowner defaults on the loan.
Final answer: Option 'FHA provides the money for the loan' is not a characteristic of FHA loans. FHA insures the loan provided by a private lender, guaranteeing that the lender will be repaid even if the borrower defaults.
Homes Must Be Primarily Residential
It is possible to purchase a mixed-use property using an FHA home loan and its low down payment requirements, but if the home is not primarily used as a residence and has 50% or more floor space taken up by non-residential use it cannot qualify for an FHA mortgage.
An FHA loan requires a minimum 3.5% down payment for credit scores of 580 and higher. If you can make a 10% down payment, your credit score can be in the 500 – 579 range. Rocket Mortgage® requires a minimum credit score of 580 for FHA loans.
FHA mortgage insurance protects lenders against losses. If a property owner defaults on their mortgage, we'll pay a claim to the lender for the unpaid principal balance. Because lenders take on less risk, they are able to offer more mortgages to homebuyers.
Final answer: correct option C. The correct statement about FHA loans is that they are insured by the Federal Housing Administration, which reduces risk for the lender.
The correct answer to the question is C: In residential dwellings of two to four units if one of the units is occupied by the owner is not an exemption to the federal fair housing laws concerning age and family status.
The protected classes include: age, ancestry, color, disability, ethnicity, gender, gender identity or expression, genetic information, HIV/AIDS status, military status, national origin, pregnancy, race, religion, sex, sexual orientation, or veteran status, or any other bases under the law.
The Fair Employment and Housing Act has very limited exemptions. The law does not apply to accommodations operated by nonprofit religious, fraternal, or charitable organizations. It also does not apply to the rental of part of a single-family, owner-occupied home to one boarder.
Federal Housing Administration (FHA) loans have requirements, including minimum property standards, which help protect lenders and buyers. Homes financed with FHA loans must meet safety, security, and soundness standards, which include areas like roofs, electrical, water heaters, and property access, among others.
Here's an overview of the FHA's minimum mortgage requirements: Credit score: 500 (10% down payment), 580 (3.5% down payment) Down payment: 3.5% (score 580 or higher), 10% (score of 500 to 579) Debt-to-income ratio: 43%
The FHA's primary function was to insure home mortgage loans made by banks and other private lenders, thereby encouraging them to make more loans to prospective home buyers.
You may be denied for an FHA loan if you have declared bankruptcy but you have not had the bankruptcy discharged. You may be denied if you are delinquent on federal taxes or otherwise owe money to the federal government but without an approved payment plan.
What's included in an FHA loan payment? A typical FHA loan payment includes principal and interest on the loan balance, mortgage insurance premiums, monthly homeowners insurance fees, and monthly property taxes. FHA homeowners in a condo or PUD will also have to pay homeowners association (HOA) dues every month.
FHA Loan: Cons
Here are some FHA home loan disadvantages: An extra cost – an upfront mortgage insurance premium (MIP) of 2.25% of the loan's value. The MIP must either be paid in cash when you get the loan or rolled into the life of the loan. Home price qualifying maximums are set by FHA.
Harassment, sexual harassment, discrimination, victimization, violence and many other kinds of offensive or inappropriate behavior qualify as unwelcome conduct. All of them will create a hostile work environment if they're happening consistently or purposefully, or in the case of a single incident, if they're severe.
The seven federally protected classes under the Fair Housing Act are race, religion, national origin, color, familial status (the presence of children under the age of 18 in a household), sex (including sexual orientation and gender identity), and disability.
If, however, the employer does not have any written rules, policies or procedures relating to recruitment then the short answer is no, employers do not need to advertise a job role before appointing a candidate. There is no legal requirement for vacancies to be advertised, either internally or externally.