Military Homeownership Assistance Program (MHOA) Funding Update:
- $227,000 in available funds remain (As of 11/27/17)
- Watch the Available Funds tab in Lender Online for current allocation total - be sure to click the "update" tab for accurate results
- Our web site is also updated on a weekly basis
Due to the limited funding for the program, it's imperative for lenders to follow these steps:
- Make sure your borrowers are aware that the MHOA program is on a first-come, first-served basis.
- Review your outstanding MHOA loans in the pipeline for incomplete status, as your attention may be needed to clear up any pending conditions to avoid cancellation.
- Have an executed purchase agreement prior to reserving the MHOA grant, this is a program requirement.
We will continue to closely monitor funding and provide appropriate notices as needed. Please contact the
IFA Single-Family team
, with any questions: 800.432.723