Lender Guidelines: 3.1 Types of Loans

Lender Guideline: 3.1 Types of Loans

For Non-Bond Loans or Bond Loans: Only 30-year, fixed-rate mortgage loans are allowed. Furthermore, the only loan types allowed are:

 FHA Loans

• Must be originated and guaranteed in accordance with FHA guidelines and Lakeview guidelines.

• 30-year fixed and limited 203(k) only.

• Temporary buydowns are not permitted.

 VA Loans

• Must be originated and guaranteed in accordance with VA guidelines and Lakeview guidelines.

• 30-year fixed only.

• Temporary buydowns are not permitted.

 USDA Rural Housing Service (RHS) Loans

• Must be originated and guaranteed in accordance with USDA-RHS guidelines and Lakeview guidelines.

• 30-year fixed only.

• Temporary buydowns are not permitted.

 HFA Conventional Loans

• Must be originated and guaranteed in accordance with Lakeview guidelines and Fannie Mae for the HFA Preferred loan product or Freddie Mac for the HFA Advantage loan product.

• 30-year fixed only.

• Temporary buydowns are not permitted.

 

For access to the full TSAHC DPA & MCC Guidelines, please click here.

 

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