Lender Guidelines: 6.1 Program Fees
Lender Guidelines: 6.1 Program Fees
For Non-Bond DPA (no MCC) and Bond DPA: The following fees will be deducted from the mortgage loan purchase price by Lakeview:
• $250 Funding Fee
• $75 Tax Service Fee
• $10 Flood Transfer Fee
• $200 Compliance Review Fee
• For loans with representative FICO scores of 620-639, an origination charge of:
o 0.50% of the loan amount for FHA, VA or USDA-RHS loans
For Non-Bond DPA (with MCC): The following fees will be deducted from the mortgage loan purchase price by Lakeview:
• $250 Funding Fee
• $75 Tax Service Fee
• $10 Flood Transfer Fee
• $200 Compliance Review Fee
• For loans with representative FICO scores of 620-639, an origination charge of:
o 0.50% of the loan amount for FHA, VA or USDA-RHS loans
• $500 MCC Issuance Fee*
*The $500 MCC Issuance Fee will not be charged to borrowers in the Homes for Texas Heroes program who are receiving non-bond government down payment assistance in combination with the MCC. The $500 MCC Issuance Fee will be charged to borrowers under the Home Sweet Texas program.
For MCCs Only (No DPA): The following fees will be due to the Texas State Affordable Housing Corporation:
• $200 Compliance Review Fee
• $500 MCC Issuance Fee
These fees must be remitted to TSAHC through an ACH transfer of funds. If an ACH transfer is not available, a corporate check for the fees may be sent to the following address:
Texas State Affordable Housing Corporation
2200 E. Martin Luther King Jr. Blvd.
Austin, Texas 78702-1344
Attn: MCC Compliance
For access to the full TSAHC DPA & MCC Guidelines, please click here.