Florida Regulations 67-45.004: Application Procedures
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(1) Eligible Borrowers shall apply for a Down Payment Assistance Loan with any Participating Lender which is processing the applicant’s First Mortgage Loan application.
(2) Prior to receiving funding for a Down Payment Assistance Loan, Eligible Borrowers shall meet all eligibility requirements as specified in the relevant Single-Family Bond Program documents.
(3) Eligible Borrowers shall execute a note and mortgage for this loan.
Rulemaking Authority 420.507(12), (23) FS. Law Implemented 420.5088(2) FS. History-New 8-7-95, Formerly 9I-45.004, Amended 12-26-99, 10-29-01, 12-7-03.
Terms Used In Florida Regulations 67-45.004
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(3) Eligible Borrowers shall execute a note and mortgage for this loan.
Rulemaking Authority 420.507(12), (23) FS. Law Implemented 420.5088(2) FS. History-New 8-7-95, Formerly 9I-45.004, Amended 12-26-99, 10-29-01, 12-7-03.