Jon is purchasing a home from Sally. Jon wants to assume the FHA loan that Sally currently has on the property. Jon is most likely to be able to assume the loan if which of the following is true?
a) Jon has a higher credit score than Sally.
b) The FHA loan terms allow for assumption by a new buyer.
c) Sally has paid off more than half of the loan principal.
d) Jon is a first-time homebuyer.