| PROGRAM FUNDS |
- Reservation/Locks – AVAILABLE* from 10:00am-8:00pm Eastern (10-8 EDT)
- * Market Business days (excluding weekends & holidays)
- Other system functions are available 24/7
- Bond Eligible
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| ELIGIBLE AREAS |
District of Columbia WARD & Census lookup can be located at http://dcatlas.dcgis.dc.gov/mar/ |
| LOAN TIME LINE REQUIREMENTS |
DO NOT RESERVE EARLY – REVIEW TIMELINE REQUIREMENTS!
- DCHFA Detailed Timeline. Click to View.
- Pre-Closing Package to DCHFA within 15 days of reservation
- Close and Deliver post closing files to eHP and US Bank within 45 days of reservation
- Reservation to Loan Purchase by US Bank: 70 days of reservation
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| ELIGIBILITY CRITERIA |
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| ELIGIBLE LOAN TYPES |
- Freddie Mac
- 80% AMI (limit $95,920)
- Over 80% AMI
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| DPA |
- DPAL Options: Offered only with PLUS Products. (See Rates Tab)
- Closing Cost Subsidy click for details
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| INCOME LIMIT CRITERIA
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- Household income = Borrower(s) 1003 Credit Income.
- $145,560 = Freddie Mac OVER 80% AMI
- $95,920 = Freddie Mac 80% AMI
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| LOAN AMOUNT LIMITS |
- Must follow Freddie Mac Agency Guidelines on all Loan Amounts.
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| HOME ACQUISITION LIMITS |
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| HOME BUYER EDUCATION |
- Required for at least one borrower
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| FICO/DTI REQUIREMENT |
- FICO – Mid score must be 640 or higher
- DTI – Max DTI ratio 50% Conventional
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| CO-SIGNERS |
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| FORMS AND DOCUMENTATION |
- DCHFA & eHP Online, once logged in to eHP system
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| THE AGENCY |
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| MASTER SERVICER |
- Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
- Servicer Lender Guides, Click here
- If you need assistance accessing the Servicer Lender Guides, Click here.
- To contact US Bank Lender Help Desk, Click here.
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