As of August 3, 2017, all conventional loans locked in our online commitment system require a dollar amount to be entered in the Grant Amount field on the “Other” tab.
Avoid common errors:
- Only include the amount of the Conventional Cash to Close Grant in the Grant Amount field. If no grant, enter “0”.
- Do not enter downpayment loan amount or grants from other sources in this Grant field.
- Do not use the Allocation Change Request form to simply add a grant. Enter Grant Amount in the “Other” tab.
Please share this information with staff that lock loans and fund approve loans at your company. For information on the Conventional Cash to Close Grant, check out the resources available: