description of additional eligibility requirements
applicant can not own other residential property; applicant can not be in arrear
First time homebuyer, eligible for a home mortgage, contribute between $1,000-2,
We required that all HOME and ADDI borrowers be first time homebuyers for all of
First Time Homebuyer and Purchase Price Limits
Loans must meet insuring agency guidelines when using KHC first mortgage (i.e.,
We have always required that recipients be FTHBs, as defined by HUD, and with HO
In 2004 some of the HOME money was given for disaster relief for counties that w
$750 buyer cash at closing; 8 hrs classroom HBE; Min 20% of income into monthly
Purchase price of home cannot exceed $135,000. Funds need to be repaid at the t
2000 Program: Recipients were required to have at lease one minor child in resid
Indenture requirements of the MRB Program (income & purchase price limits)
Homebuyer education required and for the ADDI Program the homebuyer education re
The permanent mortgage had to have a fixed rate fully amortized over the term of
No interest only loans, No payment shock over 50%, Interest rate no more than 2
all participants are required to live or work in Bergen County
We required homebuyers to be first time homebuyers and required a minimum owner
Pre-2003, there was a geograghic requirement. Participants were limited to Ewa
Residency requirement to live or work within the County for 12 months, plus firs
Pre Purchase Home Maintenance Workshop 2 Hours
Maximum amount of HOME/ADDI or toher funds into a home; Loan to vallue ratio ma
620 and greater credit score; 30 year fixed mortgage and mortgage rate review
The interest rate cannot exceed 100 basis points above the market rate.
Individuals have to be First Time Homebuyers.
Home buyers must keep up their property taxes and insurance.
Credit Requirements, Citizenship and Residents Status(Duval County)
Stricter definitionon on first time homebuyer. FICO Score requirement; downpayme
Applicant must attend an 8-hour Home Buyer Education Seminar and recevice a Cert
80% of the median income, 31/43% ratio req, 50% DAP match
Potential buyers could not of owned a home in the last 3 years. Liquid asset re
Required Buyer contribution of their own fund towards the purchase of up to $2,0
Requirements same for all years. HIR not exceed 33%, DIR not to exceed 42%, pre-
First-time home buyer (Not onwning a home within the last three years, displaced
ALL Years: Must be first time homebuyer (HUD definition). For thes program fu
Borrowers with a bankruptcy must be three years past the date of discharge to be
Our program required a minimum cash contribution of $500 from the buyer; our pro
Residency, DTIR, property value, and terms of first mortgage.
Program requires to payback portion of funds.
Mandatory homeownership training. Any training sessions missed must be resched
Homeownership Counceling, Appraisal, and Home Inspection
Client must have completed homebuyer education from a locally-approved program i
applicants must live or work in Prince William County. We did our own underwrit
We began phasing in in 2000 the requirement that homebuyers must be able to obta
Client must have a 620 FICO score and back DTI cannot exceed 42%
As of January 2007 all recepiants are required to sign a Buyer's Notification of
Fixed rate, prevaling market, no subprime-loans (Both years)
They need to live within the city limits for the last 6 months. They need show p
Maximum 36% front and 42% back-end ratios; market rate loans only; occupancy req

identfy other measures for excessive property value and interest rate
Many grantees work with AHFC approved lenders.
We can't answer many of the questions in the ways you're expecting. See attachme
Recipients are required to use our first mortgage loan which is below market rat
We review primary loans made to ensure interest rates are not excessive. We req
Recommend Sponsors to use IHDA mortgage products. Annual workshops for sponsors
All loans receiving HOME funds with KHC first mortgages receive KHC's interest r
Agencies administering Commonwealth HOME ADDI are familiar with lending industry
Our subordinate liens may not be used with adjustable rate mortgages or when rat
Because we are a State HFA with an active 1st mortgage program, we had an entire
All projects assisted with HOME funds are reviewed by our LPAs and NYS staff to
The purchase price had to be supported by the appraisal and could not exceed the
Maximum interest rate is tied to the HFA's interest rate for 1st mortgages.
One of loan guidelines to lenders is that loan cannot be more than 2 points over
During these years we had a contract with a local lender that offered interest r
All participating conventional lenders must be approved to participate, all are
Typically our subrecipients did an RFQ to select the lenders to participate in t
When accepting applications for down payment assistance, we ask that the mortgag
Never allowed clients to cash-out refinance. Generally only accepted FHA, VA or
We would always question excessively high fees and/or interest rates and suggest
We require a 16 week Mortgage Readiness Iniative Program that portential buyers
The Lynn Housing Authority will not approved a client for down payment assistanc
We allowed only A paper with fixed rates at the current published interest rates
Loans that were processed during this time were reviewed to ensure that the inte
Offered deferral of payment until sale of home or no longer used as primary home
Reviewed Good Faith & HUD 1 Settlement Statement
Pre-Purchase education. No approvals with high settlement costs. Education about
Required 30 year fixed rate with escrow; no higher than 3% above the current con
Reviewed the property appraisal and the contract selling price to determine if t
Max. purchase price through the program for a 1-family home is limited to $107,0
All home buyers attended a nine (9) hour pre-purchase class. The Housing Counse
Review appraisals and bank loans approvals.
Reviewed estimated closing costs statement to ensure fees were not excessive. On
Maximim HUD HOME purchase price & a denial of the loan if rates exceeded Program
Downpayment assistance is provided through local non-profits who carefully scrut
All homebuyers had to attend a homebuyer's education class.
We use the HUD mortage limits as the max amount of property value. Our policies
At 80% AMI, and 31/43% ratios there was only so much property buying power.
Requested a complete lenders package that included: approval letter, application
Program staff reviewed the good faith estimate to review loan terms and fees. HU
Careful consideration and review of current housing expenses prior to purchasing
No differences by year. Adherence to HIR and DIR limits prevent housing cost ove
Only fixed rates. Term between 15 and 30 years. Pre- and post-purchase trainin
Complete review of each application/property. Use of appraisals and market anal
By requiring and reviewing appraisals; requiring fixed rate mortgages with inter
By requiring appraisals; fixed rate mortgages with interest rates not exceeding
Always reviewed the appraisal, good faith estimate, the underwriting summary, re
Pre-approved lending institutions were utilitized. In addition, maximum purchas
Both property appraisals and first mortgage loan approvals were reviewed as part
Referred recipients to the Birmingham Homeowner Center for further review of pro
All lenders are trained by City staff and all lenders are required to send appli
We have a maximum sales price of the home. Also, we make sure the loans are 30
City staff consistently check market rates and products.
County ordinance indicate a 55-year loan with a 3% simple interest rate
Loans were required to be 30 year fixed interest. Closing costs were paid by the
Non-for-profit board, that consists of local religious leaders and trustees, loo
No ARM's, Balloons, 80-20 Seller held 2nd's, No Owner Financing
We pull a tax record/property evaluation and we have a in-house inspector
Local program guidelines permit home ownership providers to decline assistance i
We require loan officers to fill our a prequalification form initially, at contr
The design for our down payment assistance program includes a provision that pro
Honestly, in 2000 we were just becoming aware of predatory lending here in the M
Always review HUD-1 for any improper or excessive closing cost or fees.
Debt to Income ratio of 35% - 45% (not to exceed) & interest rate not over 3 poi
Any loan package accepted into the program could not have an interest rate of mo
Would only approve fixed interest rate on all loans.
Contractual arrangements with service provider required that loan amount could n

description of intervention
When Notified reffered client to partner counseling agencies for one on one assi
If a borrower becomes late on their mortgage, phone calls to the lender and borr
We give counseling to borrowers to contact their lenders in the event of delinqu
We follow HUD's Loss Mitigation requirements.
It hasn't been frequent that borrowers have been seriously delinquent or at risk
Referred to local partner organization that had educated borrower and originated
As the first mortgage holder, NHH always works closely with borrowers who are ha
Worked with lender to avert foreclosure.
Usually do not have current contact numbers.
individual counseling, budgeting,determination of ability to pay forward, work
Counseling, working with Lender toward possible refinance, and/or referral to lo
When the County received a foreclosure notice, we asked the subrecipients agency
Unless a loan was within the 6th-30th year of repayment, we didn’t find out unti
When we were notified of a pending foreclosure we would send the client a letter
They can retake any or all MRI sessions to help with specific financial issues o
The Counseling Agency is required to work with the homebuyer to work on foreclos
Because the Consortium records a lien on each property assisted, the Consortium
About half of loans were made to buyers of non-profit produced housing, where th
We offered budgeting, credit counseling and interaction with lenders.
Offered foreclosure prevention counseling and credit counseling; services of leg
Specific to NHS-SA, staff contact the home owner after 31 days of delinquency by
Intercede to arrange for payment or counseling if at risk.
Contacted homebuyer to assist in making a payment plan.
Worked with source of most first mortgages (a non-profit consortium which provid
Referral for personal foreclosure analysis and intervention.
Call borrower to identify reason for late payments and plans for catching up.
The county would refer delinquent borrowers to a HUD approved housing counseling
We send a letter to the homebuyer to contact us for further assistance.
Agency Portfolio Management staff attempted to make contact with borrower both b
We would have offered credit counseling through non-profits in our area, however
We contact the client to find out their situation and refer them to an agency wh
Contact by telephone and mail for counseling.
Almost all of loans are secondary loans. We are informed by a notice of default
provided mortgage payment one time, refianced second martgage or deferred second
Contacted the foreclosure attorney, and the borrower. Monitored the delinquency
The answer is yes and no. In targeted neighborhoods, lenders had to inform us wh
No foreclosures identified as of this date
Agencies providing down payment assistance also provide foreclosure prevention c
In most cases, we would not be advised of a delinquency until such time as a for
Referred to Credit Counseling and worked with lender to try and resolve the prob