What is secondary residence?
available for lease in the area or within reasonable an
undue hardship exists, meaning that affordable
available for lease in the area or within reasonable
commuting distance to work, and the maximum loan
amount is 85 percent of the lesser of the appraised
value or sales price. Direct Endorsement (DE) lenders
are not authorized to grant hardship exceptions. Any
request for a hardship exception must be submitted by
the lender in writing to the appropriate HOC.the lender
in writing to the appropriate HOC.
undue hardship exists, meaning that affordable
available for lease in the area or within reasonable
commuting distance to work, and the maximum loan
amount is 85 percent of the lesser of the appraised
value or sales price. Direct Endorsement (DE) lenders
are not authorized to grant hardship exceptions. Any
request for a hardship exception must be submitted by
the lender in writing to the appropriate HOC.the lender
in writing to the appropriate HOC.
All the following conditions must be met for
secondary residences:
secondary residences:
| Government Mortgages |
