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 Program, Xxxxxx Xxx (FHA, VA, USDA-RD) or GSE (Xxxxxx Mae & Xxxxxxx Mac) underwriting guidelines. • Property must be existing construction, not new construction. • Property must meet the MCC Program purchase price limits as established in the DPA Program Guide.
Appears in 6 contracts
Samples: Commitment to Purchase Financial Instrument and Hfa Participation Agreement, Commitment to Purchase Financial Instrument and Hfa Participation Agreement, Commitment to Purchase Financial Instrument and Hfa Participation Agreement
