Common use of Property/Loan Eligibility Clause in Contracts

Property/Loan Eligibility. Criteria Existing single-family homes or condominiums (attached or detached) including manufactured homes (permanently affixed to a foundation on real estate owned by the borrower and taxed as real property). Owner-occupied, primary residences located in Georgia, with total unpaid principal balance of all mortgages on subject property less than or equal to the current GSE conforming amount. Mortgage must be held by a Lender or Servicer licensed in the state of Georgia or exempt from state licensing due to federal regulatory oversight.

Property/Loan Eligibility. Criteria Existing single-family homes or condominiums (attached or detached) including manufactured homes (permanently affixed to a foundation on real estate owned by the borrower and taxed as real property). .) Owner-occupied, primary residences located in Georgia, with total unpaid principal balance of all mortgages on subject property less than or equal to the current GSE conforming amount. Mortgage must be held by a Lender or Servicer licensed in the state of Georgia or exempt from state licensing due to federal regulatory oversight.