Military Homeownership Assistance Program Remaining Funds Update

January 3, 2018

Military Homeownership Assistance Program (MHOA) Funding Update:

Due to cancellations $22,000 in available funds remain (As of 1/3/18)
Watch the Available Funds tab in Lender Online for current allocation total - be sure to click the "update" tab for accurate results
Our web site is also updated on a weekly basis

Due to the limited funding for the program, it's imperative for lenders to follow these steps:

Review your outstanding MHOA loans in the pipeline for incomplete status, as your attention may be needed to clear up any pending conditions to avoid cancellation with no further opportunity for reimbursement.

Make sure your borrowers are aware that the MHOA program is on a first-come, first-served basis.
Have an executed purchase agreement prior to reserving the MHOA grant, this is a program requirement.

We will continue to closely monitor funding and provide appropriate notices as needed. Please contact the IFA Single-Family team, with any questions: 800.432.723