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HOMETOWN HEROES (HTH)
IMPORTANT ANNOUNCEMENT!
FALLOUT AVAILABLE SEPT. 3rd
FL Housing will offer funds from cancelled reservations on Tuesday, September 3rd. The eHPortal opens at 10am ET on September 3rd.
There will be a little more than $2MM in fallout available on Tuesday. We will be closely monitoring cancellations over the coming weeks to determine when we will be offering fallout and we will issue additional updates confirming the date(s) the system will be open to reserve any fallout funds.
Reserve the correct loan type (FHA, VA, RD, Fannie or Freddie) and the correct program (BOND HTH or TBA HTH) to ensure that you do not lose your desired rate, incur any repricing costs or, lose HTH funding as a result of needing to switch loan type/program from reserving incorrectly. You should already have a loan approval at time of reserving fallout. Any loans reserved without a fully executed contract will be subject to cancellation. Do not reserve in an effort to “save” funds for your borrower. We will continue offering fallout over the coming weeks so, please, do not hold up another borrower from benefiting from the funds and reserving a loan that has not been approved.
Also, we receive a significant number of requests daily for exceptions to the HTH Program occupational requirement. One occupying borrower must work full time for a FL based employer. Exceptions cannot be given to this requirement. If your borrower’s employer is not FL based and they do not work full time, we have other programs that you can utilize.
REMINDER:
All loans originated in HTH 2024 must be purchased by Lakeview no later than November 15, 2024. Any loans not purchased by November 15, 2024, will be cancelled. No exceptions. We will allow one extension on funds already reserved. The loan must be Underwriter Certified within 60 days from reservation date to avoid auto-cancellation. If you cannot meet this timeline, cancel the loan so other borrowers can benefit from the funding.
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. If you cannot close, deliver, and have a loan purchased in the initial 60-day lock, DO NOT RESERVE FUNDS. We have other programs that you may utilize.
Please Note: The eHousing reservation system will not be open for new reservations on Monday, September 2, 2024, due to market closure (Labor Day).
Charles White
Homebuyer Loan Program Director
Charles.white@floridahousing.org
Sandy Smith
Homebuyer Loan Program Manager
Sandy.smith@floridahousing.org
Homeownership Loan Program Team
dpa@floridahousing.org
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