Single-Family Seller/Servicer Memorandums
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Single-Family Seller/Servicer Memorandums - 2019
- Income Limits
- Tax-Exempt Program Acquisition Cost Limits
- Revised Forms: PUR-86 Streamline Refinance Loan Summary Worksheet
- Borrowers who have completed any AHFC homebuyer education or any other HUD-approved homebuyer education class are eligible to receive up to a $250 credit towards commitment fee
- Revised Forms: PRG-43, PRG-44, PRG-61, PUR-85, UND-9
- Lenders now allowed to cancel AHFC commitment and immediately re-lock their loan without waiting for the date of the initial expiration
- Increased deductible may not exceed the higher of $1,000 or 2% of the coverage amount.
- AHFC will allow the Property Inspection Waiver (PIW) on loans that receive the PIW option through the automated approval system (AUS). (Single Family Residences and Condominiums)
- AHFC will allow rents from accessory dwelling units to be used for qualifying income
- When a LLC is the purchaser on a transaction, the LLC and members of the LLC must sign the Note
- Streamline refinances will no longer be limited to a maximum of $5000 in closing costs.
- The individual completing the renovation work can be a licensed contractor or an individual having experience and knowledge to complete such work