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Underwriting Guidelines
Home Mortgage & Lending Underwriting Guidelines

 

   Fannie Mae FHA Acquisition and Preservation
  223 (f) 221(d)4
   LIHTC Other Affordable HAP* LIHTC Market Rate HAP* LIHTC Market Rate
 Max LTV 90% 85% 87% 85% 83.30% 90%** 87%** 83.3%** 90%
Min DSC 1.15x 1.20x 1.15x 1.176x 1.20x 1.11x 1.15x 1.20x 1.15x
 Standard  Amortization 30 Years 30 Years 35 Years 40 Years 20 Years
 Standard  Term 18 Years 10 Years 35 Years 40 Years 2 Years
 Underwriting  Time to  Closing 60 days 60 days 150 days 240 days 30 days

* HAP properties are properties that have 90% of the units covered by rental assistance

** 221(d)4 loans are limited by Loan-to-Development Cost