Highlights of new Guidelines
Higher Loan to values for affordable Housing
Davis Bacon rules eliminates for most Affordable Housing Developments
The required minimum reserve balance that lenders must keep on their
books has been lowered to reduce pressure on borrowers and encourage
loans to be given in support of affordable housing development.
Allowing unit repairs using 223(f) up to $15,000 per unit and removing 15% of loan limit
After April 1, 2016 HUD paves the way to reduce the MIP (by more than
25%!) if an energy audit is performed on a property, and then energy
improvements are implemented to achieve an Energy Star Benchmarking Score of 75 or greater and Green Certification
MAP Guide
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