Lender Guidelines: 3.1 Types of Loans
Lender Guideline: 3.1 Types of Loans
For Non-Bond Loans or Bond Loans: Only 30-year, fixed-rate mortgage loans are allowed. Furthermore, the only loan types allowed are:
FHA Loans
• Must be originated and guaranteed in accordance with FHA guidelines and Lakeview guidelines.
• 30-year fixed and limited 203(k) only.
• Temporary buydowns are not permitted.
VA Loans
• Must be originated and guaranteed in accordance with VA guidelines and Lakeview guidelines.
• 30-year fixed only.
• Temporary buydowns are not permitted.
USDA Rural Housing Service (RHS) Loans
• Must be originated and guaranteed in accordance with USDA-RHS guidelines and Lakeview guidelines.
• 30-year fixed only.
• Temporary buydowns are not permitted.
HFA Conventional Loans
• Must be originated and guaranteed in accordance with Lakeview guidelines and Fannie Mae for the HFA Preferred loan product or Freddie Mac for the HFA Advantage loan product.
• 30-year fixed only.
• Temporary buydowns are not permitted.
For access to the full TSAHC DPA & MCC Guidelines, please click here.