Homeownership definition

Homeownership means fee simple title on real property or a leasehold interest on real property that enables the lessee to make improvements on and encumber the property and has a term sufficient to secure the BEGIN Program loan. Homeownership also includes ownership of manufactured housing on a permanent foundation and membership, ownership and occupancy in a limited-equity co-op development.

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Homeownership means ownership in fee simple title in a 1- 4-unit dwelling or in a condominium unit, or equivalent form of ownership approved by HUD. The land may be owned in fee simple or the homeowner may have a 99-year ground lease. For manufactured housing, the ground lease must be for a period at least equal to the period

Examples of Homeownership in a sentence

The parties hereto understand and agree that it is not intended that any Mortgage Loan be included in the Trust that is a high-cost home loan as defined by the Homeownership and Equity Protection Act of 1994 or any other applicable predatory or abusive lending laws.
Be an adopter and provide services in accordance with the National Industry Standards for Homeownership Education and Counseling.
The parties hereto understand and agree that it is not intended that any Mortgage Loan be included in the Trust that is a "High-Cost Home Loan" as defined by the Homeownership and Equity Protection Act of 1994 or any other applicable predatory or abusive lending laws.
X SHOP Self-Help Homeownership Opportunity Program funds sites for volunteer-based home construction programs X Section 108 Loan Guarantee Program Allows local governments to leverage portions of their CDBG funds into federally guaranteed loans for economic development, housing, public facility, and infrastructure.
The parties hereto understand and agree that it is not intended that any Mortgage Loan be included in the Trust that is a “High-Cost Home Loan” as defined by the Homeownership and Equity Protection Act of 1994 or any other applicable predatory or abusive lending laws.
The Authority may reduce or eliminate the Homeownership Incentive Fee if HUD reduces the funding to the Authority (i.e., the Administrative Fee) for administering the Program, or if increased costs are incurred by the Authority for administering the Program.
The reduction in the Homeownership Fee shall be an amount determined by the Authority.
Exempt from environmental review including Section 106 NA NA Housing Choice Voucher (HCV) Homeownership Program HCV Homeownership Program allows families assisted under the HCV program to use their voucher to buy a home and receive monthly assistance in meeting homeownership expenses; activities may include acquisition and related expenses that result in the transfer of title.
The Depositor and the Trustee hereto understand and agree that it is not intended that any Mortgage Loan be included in the Trust that is a "High-Cost Home Loan" as defined by the Homeownership and Equity Protection Act of 1994 or any other applicable predatory or abusive lending laws.
No Conduit Mortgage Loan is (i) covered by the provisions of the Homeownership and Equity Protection Act of 1994 or (ii) in violation of, or classified as a "high cost", "threshold", "covered" or "predatory" loan under, any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

More Definitions of Homeownership

Homeownership means ownership in fee simple title or 99 year leasehold interest in a one to four unit dwelling or in a con- dominium unit, ownership or membership in a cooperative, or equiv- alent form of ownership approved by HUD. The ownership interest may be subject only to the restrictions on resale required under fed- eral rule, mortgages, deeds of trust, or other liens of instruments securing debt on the property as approved by the participating juris- diction, or any other restrictions or encumbrances that do not impair the good and marketable nature of title to the ownership interest.

Homeownership means ownership in fee simple title of a 1- to 4-unit dwelling or condominium unit, or equivalent form of ownership approved by HUD.

Homeownership means ownership in fee simple title in a 1- to 4-unit dwelling or in a condominium unit, or equivalent form of ownership approved by HUD.

Homeownership means owning the house after Exercising the Option to Purchase (Section 31.0).