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, Xxxxxx Xxx (FHA, VA, USDA-RD) or GSE (Xxxxxx Mae & Xxxxxxx Mac) underwriting guidelines. • Must be a resale of an existing property. • Property must be within the purchase price limit of no more than four (4) times the annual income limit established for the program.
Appears in 4 contracts
Samples: Hfa Participation Agreement, Hfa Participation Agreement, Hfa Participation Agreement
