PROGRAM GUIDE. First Mortgage Program
|
|
- Jayson Park
- 8 years ago
- Views:
Transcription
1 PROGRAM GUIDE First Mortgage Program Refer to FHA, FNMA or FHLMC for standard underwriting guidelines. Refer to the Homeownership Lending Manual at for SC State Housing overlays. SC Housing programs offer a competitive first mortgage rate with down payment assistance. The down payment assistance can be forgivable or repayable depending on the borrower s income and the sales price of the home. The borrowers must also meet first time homebuyer requirements that are county specific. Homebuyer(s) NON-TARGETED COUNTIES The borrower(s) must not have had ownership interest in a principal residence within 3-years preceding the date on which the loan is closed in the following counties Aiken Greenwood Lexington Richland Anderson Greenville Oconee Spartanburg Charleston Lancaster Pickens York TARGETED COUNTIES The Borrower(s) must not have had ownership interest in a principal residence at the time of closing in the following counties: Abbeville Calhoun Darlington Georgetown Lee Orangeburg Allendale Cherokee Dillon Hampton McCormick Saluda Bamberg Chester Dorchester Horry Marion Sumter Barnwell Chesterfield Edgefield Jasper Marlboro Union Beaufort Clarendon Fairfield Kershaw Newberry Williamsburg Berkeley Colleton Florence Laurens * County Census Division #53, Ravenel Division (Charleston County) Income Limits and Home Price Limits Income limits and home price limits are county specific. The enclosed chart is the most current information available as of the printing date of this guide. Please refer to the Income and Home Price Limit charts or the program guides located online at for the most current information. Incomes and home prices can change with or without notice.
2 NON-TARGETED 1 or 2 Person(s) 2013 INCOME CATEGORIES AND MAXIMUM HOME PRICES CATEGORY I CATEGORY II 3 or More Persons Home Price See Category II Charts for 5 or more Persons 1 Person 2 Persons 3 Persons 4 Persons Existing Home Price New Construction Aiken $56,800 $65,320 $225,000 $31,850 $36,400 $40,950 $45,450 $129,000 $195,000 Anderson $55,200 $63,480 $225,000 $30,950 $35,350 $39,750 $44,150 $129,000 $195,000 Charleston $61,300 $70,495 $255,000 $34,350 $39,250 $44,150 $49,050 $155,000 $195,000 Greenville $58,000 $66,700 $225,000 $32,500 $37,150 $41,800 $46,400 $133,000 $195,000 Greenwood $55,000 $63,250 $225,000 $28,350 $32,400 $36,450 $40,500 $129,000 $195,000 Lancaster $55,000 $63,250 $225,000 $27,100 $31,000 $34,850 $38,700 $158,000 $195,000 Lexington $60,400 $69,460 $225,000 $34,350 $39,250 $44,150 $49,050 $129,000 $195,000 Oconee $56,700 $65,205 $225,000 $28,950 $33,050 $37,200 $41,300 $129,000 $195,000 Pickens $58,000 $66,700 $225,000 $33,050 $37,800 $42,500 $47,200 $133,000 $195,000 Richland $60,400 $69,460 $225,000 $34,350 $39,250 $44,150 $49,050 $129,000 $195,000 Spartanburg $55,000 $63,250 $225,000 $30,650 $35,000 $39,400 $43,750 $129,000 $195,000 York $64,100 $73,715 $231,000 $36,500 $41,700 $46,900 $52,100 $141,000 $195,000 TARGETED 1 or 2 Person(s) 3 or More Persons Home Price See Category II Charts for or more Persons 1 Person 2 Persons 3 Person 4 Persons Existing Home Price New Construction Abbeville $66,000 $77,000 $225,000 $26,900 $30,750 $34,600 $38,400 $129,000 $195,000 Allendale $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Bamberg $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Barnwell $66,000 $77,000 $225,000 $26,800 $30,600 $34,450 $38,250 $129,000 $195,000 Beaufort $80,400 $93,800 $285,000 $37,550 $42,900 $48,250 $53,600 $183,000 $195,000 Berkeley $73,560 $85,820 $255,000 $34,350 $39,250 $44,150 $49,050 $155,000 $195,000 Calhoun $72,480 $84,560 $225,000 $34,350 $39,250 $44,150 $49,050 $129,000 $195,000 Cherokee $66,000 $77,000 $225,000 $27,550 $31,450 $35,400 $39,300 $129,000 $195,000 Chester $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Chesterfield $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Clarendon $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $133,000 $195,000 Colleton $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Darlington $66,000 $77,000 $225,000 $27,400 $31,300 $35,200 $39,100 $129,000 $195,000 Dillon $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Dorchester $73,560 $85,820 $255,000 $34,350 $39,250 $44,150 $49,050 $155,000 $195,000 Edgefield $68,160 $79,520 $225,000 $31,850 $36,400 $40,950 $45,450 $129,000 $195,000 Fairfield $72,480 $84,560 $225,000 $34,350 $39,250 $44,150 $49,050 $129,000 $195,000 Florence $66,000 $77,000 $225,000 $27,650 $31,600 $35,550 $39,450 $129,000 $195,000 Georgetown $69,000 $80,500 $225,000 $32,200 $36,800 $41,400 $46,000 $187,000 $195,000 Hampton $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Horry $66,000 $77,000 $225,000 $29,300 $33,500 $37,700 $41,850 $131,000 $195,000 Jasper $66,000 $77,000 $285,000 $27,300 $31,200 $35,100 $38,950 $140,000 $195,000 Kershaw $67,680 $78,960 $225,000 $31,600 $36,100 $40,600 $45,100 $136,000 $195,000 Laurens $66,000 $77,000 $225,000 $28,350 $32,400 $36,450 $40,500 $129,000 $195,000 Lee $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 McCormick $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Marion $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Marlboro $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Newberry $66,000 $77,000 $225,000 $29,550 $33,750 $37,950 $42,150 $129,000 $195,000 Orangeburg $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Saluda $72,480 $84,560 $225,000 $34,350 $39,250 $44,150 $49,050 $129,000 $195,000 Sumter $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Union $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195,000 Williamsburg $66,000 $77,000 $225,000 $26,600 $30,400 $34,200 $38,000 $129,000 $195, Income and Home Prices can change with or without notice
3 Rates Eligible Properties Loan Types Underwriting Overlays Interest rates are adjusted weekly. SC Housing offers rates based on two income categories or by special programs. Rates are posted at Eligible properties are stick built single-family dwellings, townhouses, FHA approved condominiums and off-frame modular homes. Off-frame modular homes require a pre-approval by State Housing. All properties must be located in South Carolina. FHA, Rural Housing (Single Family Housing Guaranteed Loans Program) Conventional loans are currently unavailable at this time. Minimum Credit Score Lender Loans The Borrower must have: Three valid credit scores A minimum middle score of 640 Receive an approved/eligible findings in DU Rent verification is required but does not have to be added to the credit report If there are no scores provided our manual underwriting guidelines will apply. See manual underwriting guidelines below for specific requirements Broker Loans The Borrower must have: Three valid credit scores with the credit report reflecting a minimum of two (2) trade lines with a high credit limit of at least $1,000 and indicate a satisfactory pay history for at least twelve (12) months. The accounts can be paid in full within the last 24 months and still be considered as current trade lines. The two accounts may not include authorized user accounts. A minimum middle score of 640 Receive an approved /eligible findings in DU Rent verification is required but does not have to be added to the credit report. If there are no scores provided or the borrower does not have the two required trade lines our manual underwriting guidelines will apply. See manual underwriting guidelines below for specific requirements. Rural Housing Guaranteed Loan Program requires a minimum of 640 credit score with GUS approval. Qualification Ratios with AUS Approval FHA and SFHGLP Maximum (DTI) debt to income ratio is 45.00% with AUS Approval on all loans. Collection Accounts SCSHA requires all non-medical collection accounts, charged off accounts, judgments and Tax liens to be paid in full PRIOR TO CLOSING. Funds sufficient to settle the accounts must be verified and documented for underwriting. Medical collections not to exceed $1,000 in total are allowed. A written explanation from the borrower satisfactorily addressing the reason for the collection must be supplied and must be consistent with other credit information in the file. The underwriter must provide comments on the FHA Loan Underwriting and Transmittal Summary (HUD LT) regarding the analysis of the medical collection accounts.
4 Student Loans All student loan payments must be included in debt-to-income ratios on all State Housing loans. This INCLUDES loans that are in deferment and or forbearance. The lender may calculate a monthly payment based on 2% of the balance of the student loan in lieu of obtaining documentation of the monthly payment when the credit report does not contain payment information. However, if documentation is provided by the borrower or obtained by the lender that indicates the actual monthly payment, that amount must be used in qualifying the borrower. The borrower should contact their loan provider to see what options they have to lower the payments as there are several options now available including income based payments. If including deferred student loan payments causes the borrower to exceed the 45.00% maximum allowable ratios, the file should be reviewed for any compensating factors that may demonstrate that the payments (when becoming due) will not be a factor in the loan s stability. Compensating factors include: 1. non-borrowing occupants with income 2. Over-time income, bonus income or part-time income not counted as income for the loan. 3. Borrower has demonstrated the ability to accumulate savings each month for the amount of the student loan payment(s) 4. Borrower makes a large down payment (10% or more) ~ over and above the down payment assistance received from the Authority. 5. Credit Scores of 720+ with a minimum of 4 trade lines with balances of $1,000 each being reported for a minimum of 12 months. 6. Documentation of Student loan being retired due to job, such as teaching in a Title One School where 20% of their loans are retired each year they teach. 7. Documentation of Parents Making the Student Loan payments for a minimum of the last 12 months or for the time they have been payable. If the underwriter feels that the compensating factors proved the payment will not be a factor when they become due a second LT, DU and final application should be completed and added to the file deleting the student loan payments and showing a ratio of less than A memo from the underwriter should be included in the file stating why in her opinion the student loan payments were not included. Please contact our underwriting department with any questions. Qualification Ratios For Manual Underwrite Qualifying ratios for a manual underwrite is 31.00/ A loan qualifies for a manual underwrite Borrowers do not have the minimum of two trade lines required or have no credit. If any scores are pulled those scores must be a minimum of 640 or the middle score must be 640. Loan must meet all manual underwriting guidelines in HUD handbook C.3. A minimum of four (4) trade lines must be added to the credit report including rent when available. These trade lines must be for a minimum of twelve months each and must confirm no late payments. No open collections are allowed on a manual underwrite, including medical collections. Loan Term 20, 25, 30 years Down Payment Minimum down payment is 3% Rural Housing Minimum down payment is 3.5% FHA Loans
5 Cash Back Cash back at closing not to exceed borrower s contribution (i.e. earnest money, paid appraisal fee, etc). Mortgage Insurance All FHA loans originated are FHA insured All Rural Housing must be approved by Rural Housing and by SC Housing prior to the loan closing. Homeowner s Insurance The maximum allowable deductible for a homeowners/hazard insurance policy is $1, or 1% of the face amount of the policy, whichever is greater. Condominiums must have HO-6 Policies. HO-6 deductibles mirror hazard requirements above. Minimum HO-6 dwelling coverage allowed is 20% of the appraised value of the property. If a policy includes provisions for a separate wind-loss deductible (either in the policy itself or via separate endorsement), the maximum allowable wind and hail deductible for: FHA loan is $2, or 2% of the face amount of the policy, whichever is greater DFHGLP is $2, or 2% of the face amount of the policy, whichever is greater Conventional loans is 5% or $5,000, whichever is greater Flood Insurance - See manual for deductible ( Fees & Costs Origination and SRP Lenders are allowed to charge 1% origination fee and be paid.50% SRP at time of purchase Brokers will receive 1.50% SRP at the time of closing Allowable Fees Lender Funded Loans o $ Loan Transfer Fee to US Bank o $ Tax Service Fee to US Bank o Any fee that is paid to a third party. o Normal and customary fees charged by the company. The total of these fees are capped at $ The $ can be charged as a single fee or individual fees. Brokers/Table Funded Loans o 1% Origination Fee (to State Housing; Calculated on Base loan amount) o $ Application Fee to State Housing o $ Loan Transfer Fee to US Bank o $ Tax Service Fee to US Bank o $ Doc Prep Fee to MMSI o $ Encompass Fee to MMSI o $ MERS Fee to State Housing o Any fee that is paid to a third party. If the broker pays a third party company for processing a loan the maximum fee allowed is $ Must show invoice in file that the fee is being paid to the third party.
6 Additional Requirements Heat and Air Letter A heat and air Letter is required on all existing homes. Options are: a copy of the Home Inspection Report showing no further inspection is needed a separate letter or statement on the appraisal stating the heat and cooling unit was working at the time of the appraisal proof that a one year home warranty has been secured and evidence that it was paid for at closing statement from an independent, certified heating and air company EXCEPTION: A heating and air letter is not required on new construction, existing or new condominiums, or townhouses with more than two units on the same system. Survey A survey is required on all new construction of a singe family detached residence. Can be in the builder s or Borrower s name. Existing homes do not require a new survey but one may be required if exceptions are noted on the title policy. CL-100 A Clear CL-100 is required on all existing homes. New Construction will require a soil pretreatment certification. Tax Returns Current year tax returns are required on all loans. The return must be signed by the borrowers and include all schedules and W-2s. Loan files received after April 15, 2012 must have the 2011 tax return in the file. State Housing will not accept extension forms. If the borrower was not required to file a tax return, a SF-027 Affidavit of Non-Taxpayer must be in the file. Federal Recapture Loans are subject to Federal Recapture. IMPORTANT NOTE: Effective with all loans closed on or after July 1, 2006, South Carolina State Housing will reimburse any borrower that is required to pay recapture tax to the IRS. (See Homeownership Lending Manual for further information) Down Payment Assistance (DPA) See Program Guides for Down Payment Assistance availability in conjunction with State Housing s First Mortgage Program. Down Payment Assistance can be used for down payment, closing costs and/or prepaid items. Income and house price limits can change with or without notice Additional Information Located at Call
NON-TARGETED COUNTIES
PROGRAM GUIDE First Mortgage Program Refer to FHA, FNMA or FHLMC for standard underwriting guidelines. Refer to the Homeownership Lending Manual at www.schousing.com for SC State Housing overlays. Income
More informationExample of how to calculate the tax advantage:
PROGRAM GUIDE SC Mortgage Tax Credit (MCC) The SC Mortgage Tax Credit also known as a Mortgage Credit Certificate (MCC) is made available by SC State Housing Authority. A MCC is a certificate that allows
More informationAge distribution of SC Nurses (2008)
Age distribution of SC Nurses (2008) 16,000 14,000 13,465 12,000 10,000 9,864 8,000 6,000 4,000 2,000 2,810 791 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ Unknown All Nurses AP LPN Age Distribution
More informationS.C. Schools, Colleges, Local Governments and Agencies to Share $67 Million in Recovery Act Funding for Energy Efficiency Improvements
S.C. Schools, Colleges, Local Governments and Agencies to Share $67 Million in Recovery Act Funding for Energy Efficiency Improvements To obtain funding, school districts, colleges and agencies must apply
More informationSouth Carolina Area Health Education Consortium
South Carolina Area Health Education Consortium Connec&ng Students to Health Careers, Health Professionals to Communi&es, and Communi&es to Be9er Health Presenta&on to the House Ways and Means Higher Educa&on
More informationThe First Time Homebuyer requirement in non-targeted counties will be waived for Veterans. Sales Price and Income Limits
SC Housing Mortgage Tax Credit (MCC) Program Guide The SC Mortgage Tax Credit Program is made available by the South Carolina State Housing Finance and Development Authority ( SC Housing ). An eligible
More informationMailing List Information
Mailing List Information We are obligated to omit the names of those of our members who have requested to be exempt from our mailing list rentals. For our Bar Members, the rental rate is twenty-cents per
More informationSouth Carolina Department of Revenue Moving to South Carolina A Tax Guide for New Residents
South Carolina Department of Revenue Moving to South Carolina A Tax Guide for New Residents If you are considering a move to South Carolina or have been a resident for only a short time, you may have questions
More information2012 Wage and Salary Report. An In-Depth Survey of 200 Positions in County Government
2012 Wage and Salary Report An In-Depth Survey of 200 Positions in County Government South Carolina Association of Counties November 2011 2012 Wage and Salary Report PUBLISHED BY: South Carolina Association
More informationDevelopment of a Document Management System For Drill Logs by the South Carolina Geological Survey
Final Technical Report for NGGDPP 2010-2011 USGS Award Number G10AP00125 Development of a Document Management System For Drill Logs by the South Carolina Geological Survey Prepared 11 January 2012 by C.
More informationTHE REPORT OF THE OFFICE OF THE ATTORNEY GENERAL 2012 ANNUAL REPORT
THE REPORT OF THE STATE OF SOUTH CAROLINA OFFICE OF THE ATTORNEY GENERAL ALAN WILSON INSURANCE FRAUD DIVISION ANNUAL REPORT February 2013 CUMULATIVE STATISTICS OF THE INSURANCE FRAUD DIVISION 1995 - TOTAL
More information2013 Rankings South Carolina
2013 Rankings South Carolina Introduction Where we live matters to our health. The health of a community depends on many different factors, including the environment, education and jobs, access to and
More informationMedicaid Expansion in South Carolina
Medicaid Expansion in South Carolina The Economic Impact of the Affordable Care Act Prepared for the South Carolina Hospital Association December 2012 Executive Summary If South Carolina opts into the
More informationSC Teachers / Career Changers Loan Application and Promissory Note 2015-2016
SC Teachers / Career Changers Loan Application and Promissory te 2015-2016 te: You may apply for both programs, but you may only receive funding from one. State funding is limited and subject to change,
More informationApril 2014. Issue Brief: A Profile of the Uninsured in South Carolina
April 2014 Issue Brief: A Profile of the Uninsured in South Carolina Health Care Coverage Most Americans and South Carolinians have health insurance coverage of some kind. The most common type of coverage
More informationDear Parent/Legal Guardian:
Nikki R. Haley, Governor Marcia S. Adams, Executive Director Dear Parent/Legal Guardian: CONTINUUM of CARE Trina Cornelison, Director 1205 Pendleton, Suite 372 Columbia, SC 29201 803.734.4500 803.734.4538
More informationRESIDENTIAL. A Citizen's Guide to Radon What It Is and What to Do About It. December 1994
HL 249 December 1994 RESIDENTIAL H O U S I N G A Citizen's Guide to Radon What It Is and What to Do About It WHAT IS RADON? Radon is a cancer-causing, radioactive gas. You can t see radon. And you can
More informationPART 1: FILING YOUR PAPERWORK
PART 1: FILING YOUR PAPERWORK WARNING: You are strongly encouraged to seek the advice of an attorney before filing any legal matter. This packet is designed to provide information and forms to people who
More informationMichael McInerney, Director of External Affairs South Carolina Department of Commerce
Nikki R. Haley SOUTH CAROLINA Robert M. Hitt III G o v e r n o r D E P A R T M E N T O F C O M M E R C E S e c r e t a r y TO: FROM: Michael McInerney, Director of External Affairs South Carolina Department
More information2014 Rankings. South Carolina
2014 Rankings South Carolina INSIDE FRONT COVER INTENTIONALLY BLANK INTRODUCTION The County Health Rankings & Roadmaps program helps communities identify and implement solutions that make it easier for
More informationGenworth 2015 Cost of Care Survey South Carolina
Cost of Care Survey 2015 Genworth 2015 Cost of Care Survey State-Specific Data 118928SC 04/01/15 Homemaker Services Hourly Rates USA $8 $20 $40 $44,616 2% Whole State $13 $18 $27 $41,184 1% Charleston
More informationSTATEWIDE ECONOMIC GROWTH AND TAXATION ISSUES IN SOUTH CAROLINA SC DEPARTMENT OF COMMERCE
PERSONAL INCOME TAX STATEWIDE ECONOMIC GROWTH AND TAXATION ISSUES IN SOUTH CAROLINA SC DEPARTMENT OF COMMERCE The personal income tax is the largest source of revenue for the General Fund in South Carolina
More informationSpecial Report. Retaining Graduates of South Carolina Public Colleges and Universities. Highlights
SC Commission on Higher Education Special Report Retaining Graduates of South Carolina Public Colleges and Universities www.che.sc.gov What happens to graduates of South Carolina s colleges and universities?
More informationSOUTH CAROLINA EMERGENCY ALERT SYSTEM
SOUTH CAROLINA EMERGENCY ALERT SYSTEM Provisionally updated with interim changes, 14 October, 2011 to reflect monitor station changes STATE PLAN FOREWORD This plan was developed under Part 11 - Emergency
More informationSouth Carolina Department of Social Services Listing of Approved Batterer Intervention Programs
COUNTY NAME OF PROVIDER ADDRESS/EMAIL TELEPHONE NUMBER/FAX NUMBER ABBEVILLE AIKEN WORKING TOWARDS CHANGE SYNERGY COUNSELING UNITY PROGRAM (CUMBEE CENTER FOR ABUSED PERSONS) 806 MARSHALL ST. GREENWOOD,
More informationS. C. Bar CAP-Client Assistance Program Helps resolve client\attorney 803-799-6653 x 142 complaints.
SOUTH CAROLINA BAR S. C. Bar Lawyer Referral Statewide 1-800-868-2284 Up to $50.00 for the first half hour Columbia 803-799-7100 initial consultation, paid to lawyer not the Service. S. C. Bar CAP-Client
More informationDomestic Violence Organizations
Appendix Domestic Violence Organizations Distributed by: The State of South Carolina Office of the Attorney General S.T.O.P. Violence Against Women Program Telephone: (803) 734-3717 Fax: (803) 734-4078
More informationHomeownership Division
Michigan Credit Union League & Affiliates Annual Convention and Exposition Helping Credit Unions Serve, Grow and Remain Strong #mculace MSHDA s Homeownership Programs Delivering the Dream to Michigan Families
More informationSCDOT TENTATIVE LETTINGS Rehabilitation & Resurfacing March 2016 - February 2017 Subject To Change Without Notice
SCDOT TENTATIVE LETTINGS Rehabilitation & Resurfacing March 2016 - February 2017 Subject To Change Without Notice 1 of 9 Date Generated: 01/25/2016 Projects Returned: 56 Let Date Contract ID Project ID
More informationOFFICE OF THE ATTORNEY GENERAL
THE REPORT OF THE STATE OF SOUTH CAROLINA OFFICE OF THE ATTORNEY GENERAL ALAN WILSON INSURANCE FRAUD DIVISION 2013 ANNUAL REPORT May 2014 A MESSAGE FROM THE ATTORNEY GENERAL I am proud to present the 2013
More informationSC Rural Infrastructure Authority
2015-16 SC Rural Infrastructure Authority Program Strategy SC Rural Infrastructure Authority Office of Rural Grants 1201 Main Street, Suite 1600 Columbia, SC 29201 South Carolina Rural Infrastructure Authority
More informationSOUTH CAROLINA ACCOMMODATIONS TAX EXPENDITURES OF ANNUAL ACCOMMODATIONS TAX REVENUES FISCAL YEAR 2007-2008
SOUTH CAROLINA ACCOMMODATIONS TAX EXPENDITURES OF ANNUAL ACCOMMODATIONS TAX REVENUES FISCAL YEAR 2007-2008 South Carolina Department of Parks, Recreation and Tourism 1205 Pendleton Street Columbia, SC
More informationSection 1: Loan Characteristics
Home Flex Quick Reference: Program Summary The following is an outline of the underwriting and closing requirements of New Hampshire Housing Home Flex program, which is available to lenders who have signed
More informationSTATEWIDE ECONOMIC GROWTH AND TAXATION ISSUES IN SOUTH CAROLINA SC DEPARTMENT OF COMMERCE
CORPORATE INCOME TAX STATEWIDE ECONOMIC GROWTH AND TAXATION ISSUES IN SOUTH CAROLINA SC DEPARTMENT OF COMMERCE INTRODUCTION South Carolina imposes corporate income tax at a rate of 5%. This tax created
More informationHousing Market and Mortgage Performance in South Carolina
QUARTERLY UPDATE Housing Market and Mortgage Performance in South Carolina 1st Quarter, 2013 Jamie Feik Lisa Hearl Karen Lyons An Update on Housing Market and Mortgage Performance in South Carolina 1 st
More informationFHA STREAMLINE REFINANCE PRODUCT PROFILE
Terms 30 Year Terms 15 Year Terms Maximum LTV/CLTV LTV/CLTV Score LTV/CLTV Score Non-Credit Qualifying N/A N/A Credit Qualifying 97.75% 97.75% Applies to Case Numbers assigned on or after January 26, 2015
More informationYour Guide to. in South Carolina. Issued: August 2013
Your Guide to EXPUNGEMENT in South Carolina Issued: August 2013 Provided by: The SC Center for Fathers and Families is funded in part by: Table of Contents Step 1: What is expungement? Page 2 Step 2: Which
More informationStarting a Small Business in SC
Starting a Small Business in SC Search DOR A General Tax Guide for Starting a Small Business in SC Alcohol Beverage Licensing Bingo Business Registration Forms Corporate Estate Tax Fiduciary Individual
More informationCOUNTY AND MUNICIPAL GOVERNMENTS ACCOMMODATIONS TAX GUIDELINES
COUNTY AND MUNICIPAL GOVERNMENTS ACCOMMODATIONS TAX GUIDELINES TOURISM EXPENDITURE REVIEW COMMITTEE P.O. BOX 125 COLUMBIA, SOUTH CAROLINA 29214-0120 1 COUNTY AND MUNICIPAL GOVERNMENT GUIDELINES ACCOMMODATIONS
More informationNOTE: DO NOT TAKE CREDITS OR REPORT NEGATIVE AMOUNTS ON THIS FORM. To apply for refunds, see ST-14. x 1% = x 1% = x 1% = x 1% = x 1% = x 1% = x 1% =
1350 Period ended Business For Periods 8112 and after STATE OF SOUTH CAROLINA DEPARTMENT OF REVENUE SCHEDULE FOR LOCAL TAXES (Attach to form ST3, ST388, ST403, ST455 and ST501 when filed.) Retail License
More informationThe Chase Guaranteed Rural Housing Refinance Program Features
PROGRAM ELIGIBILITY Borrower Eligibility In order to be eligible for a Rural Development guaranteed loan, the Borrowers adjusted household income cannot exceed the maximum allowable income limit set forth
More information... 4. Table of Contents SECTION III:... 10 SECTIONV:... 26. Introduction... Legislation... Regional Breakdown... 9
Table of Contents SECTION I:................. 3 Introduction..... Legislation.................. 4............. s SECTION II:................. 8 Regional Breakdown............. 9 SECTION III:.................
More informationQuick Reference Program Summary. The following is an outline of the underwriting and closing requirements of New Hampshire Housing.
Quick Reference Program Summary The following is an outline of the underwriting and closing requirements of New Hampshire Housing. Specific Program Rules are attached to this reference. A reservation cannot
More informationCITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES
CITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES 100. Purpose The Murfreesboro Affordable Housing Assistance Program (the Program) encourages homeownership for low-income,
More informationArkansas Development Finance Authority
Arkansas Development Finance Authority ADFA S MORTGAGE BOND PROGRAM Arkansas Development Finance Authority P.O. Box 8023 Little Rock, AR 72203 www.arkansas.gov/adfa Home ToOwn Staff Murray Harding-Manager
More informationHOME INVESTMENT PARTNERSHIPS PROGRAM
2014 The South Carolina State Housing Finance and Development Authority 300-C Outlet Pointe Blvd., Columbia, South Carolina 29210 Telephone (803) 896-9001 Fax (803) 896-8583 TDD (803) 896-8831 www.schousing.com
More informationSouth Carolina Aviation Economic Impact Study
Technical Report South Carolina Aviation Economic Impact Study Prepared for: South Carolina Department of Commerce Division of Aeronautics May 2006 Prepared by: Wilbur Smith Associates, Inc. In Association
More informationGAMBLING REGISTRY OF QUALIFIED PROVIDERS Counties Address Counselor
Abbeville 112 Whitehall St. Abbeville, South Carolina 29620 (864) 459-9661 or (864) 459-9662 See Greenwood Aiken Allendale Anderson Bamberg Barnwell Beaufort Berkeley Berkeley Numbers Main Ofc. Greenwood
More informationPress Kit for Media Professionals: Reporting on Domestic Violence
Press Kit for Media Professionals: Reporting on Domestic Violence Dear Media Professional: The South Carolina Coalition Against Domestic Violence and Sexual Assault (SCCADVASA) is committed to advancing
More informationOffice of the Chief Internal Auditor. Audit Report. South Carolina Department of Transportation Audit of Laptop Computers Findings and Recommendations
Office of the Chief Internal Auditor Audit Report South Carolina Department of Transportation Audit of Laptop Computers Findings and Recommendations March 21, 2013 Table of Contents Office of the Chief
More informationSouth Carolina Capital Access Program. Review of Program s 2011 Activity
South Carolina Capital Access Program Review of Program s 2011 Activity SOUTH CAROLINA CAPITAL ACCESS PROGRAM REVIEW OF PROGRAM S 2011 ACTIVITY TABLE OF CONTENTS Executive Summary... 3 Overview of South
More informationMagnolia Bank VA Refinance Options
Interest Rate Reduction Refinance Loans (IRRRLS) Eligibility Cash Out Refinance 1. ELIGIBLE PRODUCTS VA Fixed Rate Product VA Hybrid ARMs VA High Balance Products VA Fixed Rate Product VA Hybrid ARMs VA
More informationAARP Essential Premier Health Insurance
AARP Essential Premier Health Insurance A guide to understanding your choices and selecting an insurance plan South Carolina 13.02.315.1-SC (11/09) C How to use this guide This free guide is courtesy of
More informationMORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another.
MORTGAGE TERMS Acceleration Clause This is a clause used in a mortgage that can be enforced to make the entire amount of the loan and any interest due immediately. This is usually stipulated if you default
More informationHOME BUYING101 TM %*'9 [[[ EPXEREJGY SVK i
HOME BUYING101 TM i This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended, and should not be used,
More informationConsulting Forestry Firms. for Fiscal Year 2015
Firm : Mobile Adkins Forestry Services, LLC 205 Grouse Road Summerville, SC 29485 (843) 821-8154 (843) 821-8154 (843) 870-1655 E-mail jadkins@sc.rr.com Aiken, Allendale, Bamberg, Barnwell, Beaufort, Berkeley,
More informationDU REFI PLUS FIXED AND 5/1 LIBOR ARM - APP DATE ON OR AFTER 12-1-2011 REVISED 5/25/2012
DU REFI PLUS FIXED AND 5/1 LIBOR ARM - APP DATE ON OR AFTER 12-1-2011 REVISED 5/25/2012 DEFINITION OF DU REFI-PUS: Loan is serviced by an Outside Lender Existing Loan is owned by Fannie Mae All loans must
More informationCarolinas HealthCare System
Overview NC Institute of Medicine March 8, 2006 Before CMC CHS was created in 1943 under the Hospital Authorities Act History CHS is authorized to: - Construct and operate healthcare and hospital facilities
More informationNext Home Government Program Term Sheet Effective December 1, 2015
Next Home Government Program Term Sheet Effective December 1, 2015 This Program Term Sheet ( Program Term Sheet as referenced in the Master Origination and Sale Agreement, HFA Guidelines as expressed in
More informationA Guide for Self-Advocates
SOUTH CAROLINA MEDICAID WAIVER PROGRAM : A Guide for Self-Advocates This publication provides legal information, but is not intended to be legal advice. The information was based on the law at the time
More informationA Simplified Overview of FHA Loan Origination
Introduction to FHA Origination A Simplified Overview of FHA Loan Origination Topics of Discussion Introduction to FHA Fundamentals of Loan Origination FHA Loan Limits Borrower Eligibility Property Eligibility
More informationMAGNOLIA BANK FHA STANDARD REFINANCE OPTIONS MATRIX
RATE REDUCTION REFINANCES EQUITY (CASH OUT) REFINANCES 5. CACULATING THE MORTGAGE AMOUNT WITH A NEW APPRAISAL If the junior lien is a home equity line of credit, the maximum CLTV is based on the full credit
More informationBokern Realty serving St. Louis since 1901. Home Buying Educational Seminar The WU Employer Assisted Housing Program
Home Buying Educational Seminar The WU Employer Assisted Housing Program Agenda WU Employer Assisted Housing Program Program highlights Neighborhoods Home Financing Benefits of homeownership Preparation
More informationEXPAND HOMEOWNERSHIP PROGRAM
EXPAND HOMEOWNERSHIP PROGRAM Administrator Guidelines Published: March 12, 2015 Revised March 13, 2015 Updates are shown on Page 4! FANO EXPAND HOMEOWNERSHIP PROGRAM - Administrator Guidelines Page 2 Time
More informationCity of Perris First Time Homebuyer Homebuyer Assistance Program (HAP) Lender Training
City of Perris First Time Homebuyer Homebuyer Assistance Program (HAP) Lender Training 2010 Agenda Staff Introductions HAP Program Summary HAP Program Requirements HAP Program Procedures Becoming an Approved
More informationAppraiser: a qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate.
Mortgage Glossary 203(b): FHA program which provides mortgage insurance to protect lenders from default; used to finance the purchase of new or existing one- to four family housing; characterized by low
More informationSoutheast Texas Housing Finance Corporation 5 Star Texas Advantage Program Published October 15, 2012 Revised 3-25-15 Revisions are shown on Page 3
! Administrator s Guidelines Southeast Texas Housing Finance Corporation 5 Star Texas Advantage Program Published October 15, 2012 Revised 3-25-15 Revisions are shown on Page 3!! 5 STAR TEXAS ADVANTAGE
More informationCALHOME MORTGAGE ASSISTANCE PROGRAM GUIDELINES
PLANNING AND DEVELOPMENT DEPARTMENT HOUSING AND COMMUNITY DEVELOPMENT DIVISION CALHOME MORTGAGE ASSISTANCE PROGRAM GUIDELINES PROGRAM OVERVIEW The CalHome Mortgage Assistance Program is a program funded
More informationFHA 30, 15 Year Fixed Refinance Products 203b, 234c F30; F15; F30HPML Loan Amount and LTV Limitations
Units Length of Ownership 1 1-4 Units FHA 30, 15 Year Fixed Refinance Products 203b, 234c F30; F15; F30HPML Loan Amount and LTV Limitations < 1 year prior to application and the loan is not an existing
More informationOffice of Assessment and Evaluation. SAT I Results 2013 College-Bound Seniors
Office of Assessment and Evaluation SAT I Results 2013 College-Bound Seniors Report No. 13-395 November 2013 SAT I RESULTS 2013 College-Bound Seniors Charleston County School District Nancy J. McGinley,
More informationMSHDA's Down Payment Assistance and Mortgage Credit Certificate. May 21, 2010 (3:30 5:00 p.m.) Facilitated by: Carol Brito (MSHDA) Sponsored by:
MSHDA's Down Payment Assistance and Mortgage Credit Certificate May 21, 2010 (3:30 5:00 p.m.) Facilitated by: Carol Brito (MSHDA) Sponsored by: CREDIT UNIONS A DRIVING FORCE OF COMMUNITIES MSHDA Overview
More informationFHA Streamline Refinance Guidelines
The following guidelines apply to all DIRECTORS MORTGAGE s FHA Streamline Refinance loan program. All loans must adhere to the criteria of these guidelines or the individual loan programs. While DIRECTORS
More informationFHA Standard Refinance Cash Out
This matrix is intended as an aid to help determine whether a property/loan qualifies for certain financing. It is not intended as a replacement for FHA guidelines. Users are expected to know and comply
More informationPage One of Settlement Statement A. U.S. Department of Housing B. Type of Loan and Urban Development 1. [ ] FHA 2. [ ] FMHA 3. [ ] Conv. Unins.
Page One of Settlement Statement A. U.S. Department of Housing B. Type of Loan and Urban Development 1. [ ] FHA 2. [ ] FMHA 3. [ ] Conv. Unins. 4. [ ] VA 5. [ ] Conv. Ins. 6. File Number 7. Loan Number
More informationDEVELOPED BY: DIVISION OF RESEARCH MOORE SCHOOL OF BUSINESS UNIVERSITY OF SOUTH CAROLINA JULY 2011
HIGH-IMPACT FIRMS IN SOUTH CAROLINA DEVELOPED BY: DIVISION OF RESEARCH MOORE SCHOOL OF BUSINESS UNIVERSITY OF SOUTH CAROLINA JULY 2011 STUDY PREPARED BY: DR. DOUGLAS P. WOODWARD DIRECTOR, DIVISION OF RESEARCH
More informationPreparing for homeownership
Preparing for homeownership What we ll cover 1. Getting ready for homeownership 2. Mortgage basics 3. What you need to buy a home 4. Finding the right home 5. Resources 2 Getting ready for homeownership
More informationFHA Standard Refinance Cash Out
This matrix is intended as an aid to help determine whether a property/loan qualifies for certain financing. It is not intended as a replacement for FHA guidelines. Users are expected to know and comply
More informationSouth Carolina Capital Access Program. Review of Program s 2010 Activity
South Carolina Capital Access Program Review of Program s 2010 Activity SOUTH CAROLINA CAPITAL ACCESS PROGRAM REVIEW OF PROGRAM S 2010 ACTIVITY TABLE OF CONTENTS Executive Summary... 3 Overview of South
More informationDefinitions. In some cases a survey rather than an ILC is required.
Definitions 1. What is the closing? The closing is a formal meeting at which both the buyer and seller meet to sign all the final documentation required for the buyer's mortgage loan. Once the closing
More informationORIGINATING AGENTS GUIDE REVISION 92. October 17, 2014
Ralph M. Perrey, Executive Director Tennessee Housing Development Agency Andrew Jackson Building Third Floor 502 Deaderick St., Nashville, TN 37243 www.thda.org ORIGINATING AGENTS GUIDE REVISION 92 October
More informationPage 1 of 9 Table of Contents
Page 1 of 9 Table of Contents LTV MATRIX... 2 PROGRAM SUMMARY... 3 LOAN AMOUNTS... 3 Conforming... 3 High Balance... 3 LOAN PROGRAM CODES... 3 LOAN TERMS... 3 ADJUSTMENT RATE DETAILS... 4 ELIGIBLE PROPERTY
More informationInsert Product Photograph Here
Pitt County Community Development Down Payment Assistance Program Insert Product Photograph Here Overview The HOME Down payment Assistance Program is designed to assist potential low income, first-time
More informationHOME BUYING101. 701.255.0042 www.capcu.org i
HOME BUYING101 701.255.0042 www.capcu.org i This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended,
More information2 TERMS AND CONDITIONS
2 TERMS AND CONDITIONS Each Loan must satisfy the following terms and conditions: LOAN TYPES Fixed rate FHA 203(b), 234 (c), HUD 184, VA, USDA Rural Development, and Conventional loans listed below may
More information2015 ANNUAL REPORT 1
2015 ANNUAL REPORT 1 Left to right: Andy Lowrey, Curtis Carter, Steve Mudge, Bobby Hitt, Michael Nix, Harry Huntley, Claudia Miller, Bucky Drake and Warner Peacock. Not pictured: Greg Thompson, Henry Swink
More informationSoutheast Texas Housing Finance Corporation (SETH) 5 Star Texas Advantage Program Invitation to Participate
Southeast Texas Housing Finance Corporation (SETH) 5 Star Texas Advantage Program Invitation to Participate Southeast Texas Housing Finance Corporation (SETH) is pleased to extend an invitation to its
More informationGuide to Reverse Mortgages
Guide to Reverse Mortgages Prepared by Steve Juetten, CFP Juetten Personal Financial Planning, LLC. www.finpath.com 425-373-9393 Disclaimer: the information in this report was prepared from reliable sources;
More informationFirst Mortgage Documents User Guide 139
HUD 1 Settlement Statement Line instructions General Instructions Information and amounts may be filled in by typewriter, hand printing, computer printing, or any other method producing clear and legible
More informationFor the. 2016 National Democratic Convention. Adopted by the SCDP Executive Committee April 30, 2015
South Carolina Delegate Selection Plan And Affirmative Action Plan For the 2016 National Democratic Convention Approved for posting by the SCDP Executive Committee March 26, 2015 Posted for Public Comment
More informationYou Can Buy a Home The keys to Homeownership
You Can Buy a Home The keys to Homeownership The keys to homeownership Buying a home is one of the most important purchases you ll ever make. Owning your own home helps you build wealth, save on taxes
More informationTATT Area Resources and Alternate Sources of Capital
Appalachian Council of Governments ("InfoMentum" Program) Appalachian Development Corporation Demographic, Market, and Economic Data/Analysis; GIS, Planning, & Grant Support for Economic Development Appalachian
More informationFROM: Tammye Treviño (Signed by Tammye Treviño) Administrator Housing and Community Facilities Programs
RD AN No. 4635 (1980-D) April 2, 2012 TO: State Directors Rural Development ATTENTION: Rural Housing Program Directors, Guaranteed Loan Coordinators, Area Directors and Area Specialists FROM: Tammye Treviño
More informationUSDA RURAL DEVELOPMENT
USDA RURAL DEVELOPMENT The USDA Rural Development (RD) program provides very-low-, low- and moderateincome rural residents with better access to affordable housing finance options with little or no down
More informationgoals and objectives objectives for the SCASP were:
1 executive summary 1 The South Carolina Airports System Plan (SCASP) of 2008 is to gain knowledge and understanding of the needs and requirements of South Carolina airports. The purpose of this project
More informationVA Refinance Cash Out
VA Refinance Cash Out This matrix is intended as an aid to help determine whether a property/loan qualifies for certain financing. It is not intended as a replacement for VA guidelines. Users are expected
More informationCounty "SELP" Program Guidelines & Procedures
Charles County First Time Home Buyers Settlement Expense Loan Program for Charles County County "SELP" Program Guidelines & Procedures December 1997 Revised May 8, 2012 Supported by Charles County Commissioners
More informationVA Refinance IRRRL. VA Refinance IRRRL
This matrix is intended as an aid to help determine whether a property/loan qualifies for certain financing. It is not intended as a replacement for VA guidelines. Users are expected to know and comply
More information13 DOWNPAYMENT PROGRAMS
13 DOWNPAYMENT PROGRAMS DOWNPAYMENT ASSISTANCE PROGRAMS These guidelines apply to all downpayment assistance loans offered at the Commission Details for Home Advantage Downpayment Assistance Program can
More informationCITY AND COUNTY OF DENVER, COLORADO 2015 MORTGAGE CREDIT CERTIFICATE (MCC) PROGRAM PROGRAM SUMMARY AND GUIDELINES. January 1, 2015
CITY AND COUNTY OF DENVER, COLORADO 2015 MORTGAGE CREDIT CERTIFICATE (MCC) PROGRAM PROGRAM SUMMARY AND GUIDELINES January 1, 2015 PURPOSE The purposes of the MCC Program are to: Provide a first-time homebuyer
More informationO T H E R S E R V I C E S C A R O L I N A
Improving the lives of South Carolinians A L C O H O L I N D I R E C T O R Y A N D A B U S E S O U T H O F O T H E R S E R V I C E S C A R O L I N A D R U G A County-by-County Listing of Public and Private
More information