ADMINISTRATOR GUIDELINES  |
PARTICIPATING LENDERS
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| PROGRAM FUNDS |
- eHP System available 24/7
- Reservation/Locks are available on business days between 10am-8pm Eastern Daylight
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| LOAN TIME LINE REQUIREMENTS |
- Reservation to UW Cert: 15 days (cancelled if not certified)
- Reservation to Loan Purchase: 70 days
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| ELIGIBLE AREAS |
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| ELIGIBILITY CRITERIA |
- NO First-time Homebuyer Requirement
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| ELIGIBLE LOAN TYPES |
- FHA, VA
- 203 (k) streamlined (with US Bank approval)
- Freddie Mac HFA Advantage
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| AVAILABLE DOWN PAYMENT ASSISTANCE |
- Assistance is system calculated of the note amount (see rates)
- available for down payment or closing costs.
- Cash back is not allowed.
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LIMITS:
- INCOME
- ACQUISITION
- LOAN AMOUNT
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- Household income = 1003 Credit Qualifying Income
- See Guidelines
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| HOME BUYER EDUCATION |
- Required for Freddie Mac loans
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| FICO SCORE & CREDIT REQUIREMENT |
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| CO-SIGNERS |
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| LENDER PARTICIPATION |
- Approval by Agency & UB Bank
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| FORMS AND DOCUMENTATION |
- Log into system, under FORMS
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| THE 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 with the Servicer Lender Guides or to contact the US Bank Lender Help Desk, Click here.
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