DPA Loan definition

DPA Loan means a subordinated, no stated interest, thirty-year term loan for down payment and closing costs made to a mortgagor under the Program in an amount as identified in the commitment lot notice applicable to the 2021 A Mortgage Loan, subject to adjustment from time to time at the direction of the Department. DPA Loans are not considered Mortgage Loans.
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DPA Loan means a subordinate lien loan made in connection with a first lien loan made by THDA, for purposes of downpayment and closing cost assistance; such DPA Loans may be either (i) non-interest bearing loans with 30 year terms, due on sale or refinance, or (ii) fully amortizing 30 year term loans with an interest rate equal to the related first lien loan.
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DPA Loan means a subordinated, no stated interest, thirty-year term loan for down payment and closing costs made to a Mortgagor under the Program in an amount equal to either
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Examples of DPA Loan in a sentence

  • The HHF DPA Loan Program was initially being offered as a pilot program in Brevard, Duval, Hillsborough, Orange and Volusia counties.

  • On August 31, 2016, the HHF DPA Loan Program expanded into an additional six counties; Clay, Osceola, Pasco, Pinellas, Polk and St. Lucie.

  • Instead, lenders are required to use a DPA Loan Disclosure Form created to further clarify the terms of the Second Mortgage for the borrower.

  • No commitment or origination fee will be charged for the DPA Loan.

  • The Mortgage Lender may collect and retain a $50 application fee for each DPA Loan.

  • The HHF DPA Loan Program is initially being offered as a pilot program in Brevard, Duval, Hillsborough, Orange and Volusia counties.

  • Print, complete and scan the DPA Funding Request, Underwriter’s Certification Form or Loan Confirmation, and DPA Loan Disclosure Form located within the eHousing Plus Lender Portal.

  • The Department covenants and agrees that each DPA Loan meets the requirements set forth in the Program Guidelines.

  • The DPA Loan plus the first mortgage amount cannot exceed appraised value.

  • The Mortgage Lender will use the Fannie Mae conventional loan Housing Finance Authority 1% Option mortgage loan product with the DPA Loan.


More Definitions of DPA Loan

DPA Loan means a subordinated, no stated interest, thirty-year term loan for down payment and closing costs made to a mortgagor under the Program.
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DPA Loan means a subordinated, no stated interest loan for down payment and closing costs made to a mortgagor under the Program in an amount as identified in the commitment lot notice applicable to the 2022 A Mortgage Loan, subject to adjustment from time to time at the direction of the Department. DPA Loans are due on sale, refinance, or repayment of the first mortgage and may be either forgiven on the 3-year or 5-year anniversary of the closing of the first mortgage, or have a thirty year term with no forgiveness. DPA Loans are not considered Mortgage Loans.
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DPA Loan means a subordinated, no stated interest, thirty year term loan for down payment and closing costs made to a Mortgagor under the Program in an amount equal to 4.0% of the principal amount of the 2009C-3 Mortgage Loan, as identified in the commitment lot notice applicable to the Thirtieth Mortgage Loan, subject to adjustment from time to time at the direction of the Department.
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DPA Loan means a subordinated, no stated interest loan for down payment and closing costs made to a mortgagor under the Program in an amount as identified in the commitment lot notice applicable to the 2022 B
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Related to DPA Loan

  • Sub-loan means a loan made or proposed to be made out of the proceeds of the Loan to a Beneficiary for a Development Project;

  • Term Loan as defined in Section 2.1.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage. All L/C Advances shall be denominated in Dollars.