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HOMETOWN HEROES (HTH)
IMPORTANT ANNOUNCEMENT
Fallout Available on
Tuesday, November 12, 2024
FL Housing will offer a little more than $1MM in funds from cancelled reservations on Tuesday, November 12th. Please note that the reservation system is not open for reservations until 10:00 am EST.
Loans reserved on Tuesday, November 12th and later, must be certified in our system no later than 30 days from reservation or they will be cancelled. These reservations will include a different timeline that will be monitored closely. Adhere to the below timeline to avoid cancellation:
Reservation to Underwriter Certification = 30 Days
Reservation to Purchase = 60 Days
If your loan is not going to close by 12/20/24, you need to consider our other program options because you should have a loan approval and closing date that falls before 12/20/24 at time of reservation.
You should also know that your borrower qualifies for HTH by satisfying HTH’s occupational requirement. You should have already confirmed and obtained the necessary documentation to verify the borrower works full time for a FL based company. If you’re not sure, refer to the guidelines now to confirm before attempting to reserve on Tuesday.
Do not reserve in an attempt to “save” funds for your borrower while prohibiting another borrower from benefiting from the funds because you have not fully qualified your borrower.
And do not try to reserve on Tuesday unprepared. Follow these tips below:
1. Know one occupying borrower qualifies for HTH by satisfying the occupational requirement.
2. Know the borrower has been approved with a fully executed contract.
3. Know which program you need to reserve. Bond or TBA? Government or Conventional.
4. Know that the borrower will close by 12/20/24 and that the loan can be certified 30 days from reservation.
Guidelines may be found by clicking on this link.
Extensions will NOT be given on any loans reserved from fallout. There will be NO EXCEPTIONS. Loans will need to satisfy the 60-day reservation to purchase timeline, or they will be cancelled.
Please Note: The eHousingPlus reservation system will not be open for new reservations on Monday, November 11th, due to market closure (Veterans Day).
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