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90 Day Occupants Downpayment Assistance § 24.402(c)
Agency can elect maximum $5,250 downpayment and apply uniformly.
Downpayment no longer limited to conventional loan downpayment amount.
Notes:
In the case of the first bullet, there was only a minor clarification of the language of the regulation with no change in meaning or implementation.
The second bullet, in the new Appendix language, does make a change in that the downpayment is no longer limited by the minimum downpayment amount required for obtaining a conventional loan.
IMPLEMENTATION: This potentially would benefit purchasers of lower value Decent, Safe, and Sanitary replacement properties. It would also tend to lessen administrative burden of agencies to implement the downpayment program.
To provide feedback, suggestions or comments for this page, contact Arnold Feldman arnold.feldman@fhwa.dot.gov
