Common use of Property/Loan Eligibility Clause in Contracts

Property/Loan Eligibility. Criteria Home is currently owner-occupied and serves as the borrower’s primary residence. If vacant, homeowner must be able to prove that they moved due to extenuating circumstances and that the home was most recently used as a primary residence – not an investment property. Borrowers with a second lien will also be considered for the Second Mortgage Reduction Plan program.

Property/Loan Eligibility. Criteria Home is currently owner-occupied and serves as the borrower’s primary residence. If vacant, homeowner borrower must be able to prove that they moved due to extenuating circumstances and that the home was most recently used as a primary residence – not an investment property. Borrowers with a second lien will also be considered for the Second Mortgage Reduction Plan program.