Military Homeownership Assistance Program (MHOA) Funding Update:
- $379,000 in available funds remain (As of 7/30/19)
- 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:
- Make sure your borrowers are aware that the MHOA program is on a first-come, first-served basis.
- 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.
- Have an executed purchase agreement prior to reserving the MHOA grant, this is a program requirement.
- All pending documentation from the previous wait-list must be cleared before any new reservations will be accepted on the forthcoming wait-list.
We will continue to closely monitor funding and provide appropriate notices as needed. Please contact the
IFA Single-Family team, with any questions: 800.432.7230.
