Difference between revisions of "FM SFLP.Special Eligibility Program"
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<b>Special Eligibility Program</b>: A mortgage program with expanded eligibility criteria designed to increase and maintain home ownership. | <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. | |
| − | + | * 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 == | == Notes == | ||
| − | + | * F – HFA Preferred™ | |
| − | + | * H – HomeReady | |
| − | + | * R – RefiNow™ | |
| − | + | * O – Other | |
| − | + | * 7 – Not Applicable | |
| − | + | * 9 – Not Available. | |
The field belongs to the [[FM SFLP Template]] | The field belongs to the [[FM SFLP Template]] | ||
Revision as of 17:08, 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
