Reminder: Conventional Cash to Close Grants Deadline for Purchase
Fannie Mae HFA Preferred™ and HFA Preferred Risk Sharing™: Loans with grants must be purchased by February 15, 2018. Please work with your U.S. Bank Deficiency Specialist to clear all deficiencies as quickly as possible. U.S. Bank will not reimburse the lender for the grant amount when purchasing loans after February 15.
Freddie Mac HFA AdvantageSM: Grants are still available in 2018. No end date for the grants has been determined. As a reminder, the grant amount must be 200 basis points of the loan amount or 50 basis points of the loan amount (rounding up or down in $100 increments) depending on income. The full amount of the grant must be used; partial grants are not allowed.