Property/Loan Eligibility Criteria. Current, unpaid principal balance (“UPB”) (includes the interest- bearing unpaid principal balance and any existing non-interest bearing forbearance balance) of the first-lien mortgage loan is not greater than $729,750. • The property securing the mortgage loan must not be abandoned, vacant or condemned. • The applicant must own and occupy the single family, 1-4 unit home (an attached or detached house or a condominium unit) located in California and it must be their primary residence. Mobile homes are eligible if they are permanently affixed to the real property that is secured by the first lien.
Property/Loan Eligibility Criteria. Current, unpaid principal balance (“UPB”) (includes the interest- bearing unpaid principal balance and any existing non-interest bearing forbearance balance) of the first-lien mortgage loan is not greater than $729,750. • For FHA HECM loans, the mortgage balance may not be greater than $625,500. • The property securing the mortgage loan must not be abandoned, vacant or condemned. • The applicant must own and occupy the single family, 1-4 unit home (an attached or detached house or a condominium unit) located in California and it must be their primary residence. Mobile homes are eligible if they are permanently affixed to the real property that is secured by the first lien.
Property/Loan Eligibility Criteria. Current, unpaid principal balance (“UPB”) (includes the interest- bearing unpaid principal balance and any existing non-interest bearing forbearance balance) of the first-lien mortgage loan is not greater than $729,750. • The property securing the first-lien mortgage loan must not be abandoned, vacant or condemned. • The applicant must own and occupy the single family, 1-4 unit home (an attached or detached house or a condominium unit) located in California and it must be their primary residence. Mobile homes are eligible if they are permanently affixed to the real property that is secured by the first lien. • A pre-assistance loan-to-value (“LTV”) ratio of 120% or greater is considered a hardship indicative of imminent default. • If a qualifying, first-lien mortgage loan is delinquent, the servicer must utilize the PRP monies to bring the first-lien mortgage loan current before applying PRP monies to the homeowner’s principal balance. • The servicer will reduce the qualifying principal balance in conjunction with a loan recast or loan modification in the amount needed (up to the maximum per household assistance) to help the homeowner establish an appropriate level of affordability and mortgage debt per CalHFA MAC guidelines. Such loan recasts or modifications must meet the CalHFA MAC modification and program guidelines. • Servicer may apply PRP monies as a stand-alone curtailment to reduce the homeowner’s UPB in order to help the homeowner establish an appropriate level of mortgage debt as determined by CalHFA MAC only when all five of the following conditions exist: o Loan restricts a loan recast or modification, o Pre-assistance LTV ratio is 120% or greater, o Such homeowner must not have assets (excluding retirement assets) equal to or greater than the amount of PRP assistance, o Pre-assistance mortgage payment meets CalHFA MAC’s definition of an Affordable Payment, and o Post-assistance LTV ratio is greater than 100%. • Loans in foreclosure may be eligible.
Property/Loan Eligibility Criteria. The applicant must own and occupy the single family, 1-4 unit home (an attached or detached house or a condominium unit) located in Nevada and it must be their primary residence. Mobile homes are eligible if they are permanently affixed to the real property that is secured by the first and second mortgages. • The servicer must utilize the SMRP monies to bring the second mortgage current before applying SMRP monies to the homeowner’s principal balance. • SMRP monies may be used to bring delinquent property taxes; Homeowners Association dues, fees and assessments; and property related insurance as set forth in program guidelines (collectively “Property Related Expenses”) current at closing. • If the amount of SMRP monies is not sufficient to extinguish the second mortgage, the servicer/lender must agree to reamortize or modify the second mortgage. • Combined mortgage balances cannot exceed the current GSE loan limit. • Post-assistance combined principal balance of the primary and second mortgages must not be less than 100% CLTV based upon valuation obtained by NAHAC or the servicer.
Property/Loan Eligibility Criteria. The property must be a single-family home, a condominium unit, a townhome, or a two-four family dwelling unit of which one unit is to be occupied by the mortgagor as his or her principal residence. • Must be the borrower’s primary residence. • Property must be located in a Targeted Area. • Meet all applicable DPA Program, Xxxxxx Xxx (FHA, VA, USDA-RD) or GSE (Xxxxxx Mae & Xxxxxxx Mac) underwriting guidelines. • Property must be existing construction, not new construction. • Property must meet the MCC Program purchase price limits as established in the DPA Program Guide.
Property/Loan Eligibility Criteria. The property must be a single-family home, a condominium unit, a townhome, a manufactured or mobile home on foundation permanently affixed to real estate owned by the borrower, or a two-four family dwelling unit of which one unit is occupied by the mortgagor as his or her principal residence. • The property must be the borrower’s principal residence, be located in Florida, and not be abandoned, vacant or condemned. • The outstanding principal balance of the first mortgage must be $400,000 or less at the time of application, regardless of number of dwelling units.
Property/Loan Eligibility Criteria. The property must be a single-family home, a condominium unit, a townhome, a manufactured or mobile home on foundation permanently affixed to real estate owned by the borrower, or a two-four family dwelling unit of which one unit is to be occupied by the mortgagor as his or her principal residence. • Must be the borrower’s primary residence. • Property must be located in a Targeted Area. • Property must meet Florida HFA Homebuyer Loan Program purchase price limits as specified in the DPA Program Guide. • Meet all applicable Agency (FHA, VA, USDA-RD) or GSE (Xxxxxx Xxx & Xxxxxxx Mac) underwriting guidelines.
Property/Loan Eligibility Criteria. The applicant must own and occupy the single family, 1-4 unit home (an attached or detached house or a condominium unit) located in Nevada and it must be their primary residence. Mobile homes are eligible if they are permanently affixed to the real property that is secured by the primary mortgage. • For a Modification or Reamortization, the servicer must utilize the PRP monies to bring the primary mortgage current before applying PRP monies to the homeowner’s principal balance. • For a Modification or Reamortization PRP monies may be used to bring delinquent Property Related Expenses current at closing. • Mortgage balance cannot exceed the current GSE loan limit.
Property/Loan Eligibility Criteria. Existing single-family homes, duplexes or condominiums (attached or detached) including manufactured homes on foundations permanently affixed to real estate owned by the borrower. North Carolina owner-occupied, primary residences only.
Property/Loan Eligibility Criteria. Property must be the borrower’s principal residence, located in Florida and may not be abandoned, vacant or condemned. • The property must be a single family home, a condominium, a townhome, a manufactured or mobile home on foundation permanently affixed to real estate owned by the mortgagor, or a two-four family dwelling unit of which one unit is occupied by the mortgagor as their principal residence that is owner- occupied with a UPB equal to or less than $400,000.00. • Mortgage must a distressed loan with a Total Primary Mortgage Debt that equals or exceeds the required percentages described in Section 5 above. Market value will be established by a FIRREA-compliant appraisal completed by an appraiser licensed and in good standing under Chapter 475 of the Florida statutes at the time the appraisal is performed or by an interior/exterior Broker’s Price Opinion (BPO).
