Entry Cost definition
Examples of Entry Cost in a sentence
Mortgage Loans to mortgagors receiving Entry Cost Assistance will be acquired by the Servicer from the Mortgage Lenders at a price equal to 100% of the principal amount thereof plus (i) accrued interest, (ii) the applicable Servicing Release Premium, and (iii) the amount of cash assistance provided by the Mortgage Lender for such Loan, as directed by the Authority.
The Mortgage Lender shall (i) inform Borrowers of the availability of Entry Cost Assistance, (ii) assist in identifying Borrowers who might be eligible for such assistance, and (iii) cooperate with the Authority and the Servicer in making such assistance available to an eligible Borrower.
Borrowers and Accommodation Parties executed this Entry Cost Homeownership Opportunity Loan Program Mortgage on the day and date first above written.
Borrowers are obligated, at the time of occurrence of certain events, to repay to the Lender the Loan all in accordance with the provisions set forth in that certain Entry Cost Homeownership Opportunity Program Note (hereinafter referred to, along with any amendments, modifications, renewals, extensions, substitutions, or restatements thereof, as the “Note”).
Seller wishes to participate in the Entry Cost Homeownership Opportunity Program (hereinafter referred to as the "Program"), and has submitted an application to MHFA describing its proposed participation in such program.