Difference between revisions of "FM SFLP.Special Eligibility Program"
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== Definition == | == Definition == | ||
| − | <b>Special Eligibility Program</b> | + | <b>Special Eligibility Program</b>: A mortgage program with expanded eligibility criteria designed to increase and maintain home ownership. |
• Home Ready - An affordable mortgage program designed for eligible, creditworthy borrowers. | • Home Ready - An affordable mortgage program designed for eligible, creditworthy borrowers. | ||
| Line 22: | Line 22: | ||
== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 79 | * FM SFLP Field Index: 79 | ||
| + | * Column Label: HOMEREADY_PROGRAM_INDICATOR | ||
* Data Type: Choice | * Data Type: Choice | ||
* Data Maximum Length: X(1) | * Data Maximum Length: X(1) | ||
Revision as of 15:15, 17 January 2023
Definition
Special Eligibility Program: A mortgage program with expanded eligibility criteria designed to increase and maintain home ownership.
• Home Ready - An affordable mortgage program designed for eligible, creditworthy borrowers. • HFA Preferred - An affordable, conventional mortgage program available exclusively to housing financing agencies (HFAs) to maximize financing to low-to moderate-income borrowers. • RefiNow - An affordable refinance program designed for eligible, creditworthy borrowers with an existing Fannie Mae-owned mortgage. • Other - A special eligibility program not provided within the other enumerations. • Not Applicable - The special eligibility program disclosure is not applicable to the related loan. • Not Available - The special eligibility program disclosure is not available for the related loan.
Notes
• F – HFA Preferred™ • H – HomeReady • R – RefiNow™ • O – Other • 7 – Not Applicable • 9 – Not Available.
The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 79
- Column Label: HOMEREADY_PROGRAM_INDICATOR
- Data Type: Choice
- Data Maximum Length: X(1)
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates
