What is the expected turn-around time?
The expected turn-around time is 30-45 days.
FAQ Topic: My First Home Program FAQ
Who has to enroll in the 8-hour Home Counseling program and receive certificates?
Individuals who will be on the title and deed of the property.
Are realtors or lenders required to complete a course?
No, there is no course requirement for realtors or lenders.
Does the program have a lender list?
No, we will work with any lenders who meet our requirements, outlined in the program application.
Are condominiums allowed for the loan?
Yes
When is payment of the loan due?
Payment is due as a lump-sum at the end of either 30 or 45 years (depending on the funding source available when you apply) or when the property is sold or transferred to another party. We do not accept monthly payments. If the property is refinanced and the equity is cashed-out, we require payment of … Continued
Is the City a silent second loan?
Yes