Property/Loan Eligibility Criteria. The property must be a single-family home, a condominium unit, a townhome, a manufactured or mobile home on foundation permanently affixed to real estate owned by the borrower, or a two-four family dwelling unit of which one unit is occupied by the mortgagor as his or her principal residence. • The property must be the borrower’s principal residence, be located in Florida, and not be abandoned, vacant or condemned. • The outstanding principal balance of the first mortgage must be $400,000 or less at the time of application, regardless of number of dwelling units.
Appears in 6 contracts
Samples: Commitment to Purchase Financial Instrument and Hfa Participation Agreement, Hfa Participation Agreement, Commitment to Purchase Financial Instrument and Hfa Participation Agreement
