Search results for "payoff"

Info for Single-Family Lenders and Real Estate Professionals

Published on: January 24, 2024

MCC Reissuance

Published on: December 12, 2023

Some homeowners have a Mortgage Credit Certificate which allows them to claim a special tax credit on their federal income taxes every year. If you received an MCC when you bought your home and you want to refinance or sell your home, you may need to take certain steps.

Federal Recapture Tax

Published on: December 12, 2023

In rare cases, homeowners who financed their home using the House Key State Bond Program or a Mortgage Credit Certificate may be subject to the “recapture” of this benefit. Our experience shows that very few borrowers will be affected by recapture tax.

Housing Counseling & Service Provider Network

Published on: December 5, 2023

This is a list of pre- and post-purchase housing service providers that work with the Commission on homeownership programs. Most of the counseling services these agencies provide are free. These organizations are HUD approved and/or Neighborworks-trained, with experienced housing counselors on staff to assist you with your counseling needs. They can provide information on credit, budgeting, becoming mortgage ready, savings plans, default and foreclosure prevention. Many of these agencies are very familiar with affordable homeownership programs around the state and sometimes even offer their own programs to assist with homeownership, rehabilitation and weatherization.

What is a payoff request? How do I request a payoff?

FAQ Categories: Homeowner FAQs

Published on: December 1, 2023

If you are refinancing or want to pay off your mortgage or your downpayment assistance loan early, you must submit a payoff request to your loan servicer. (Your loan servicer is the entity to which you make your loan payments.) The payoff tells you exactly how much you still owe on your mortgage (the remaining balance). It might also include accrued interest or fees that you may owe.

To request a payoff for your Housing Finance Commission loan or downpayment assistance loan (also known as your second mortgage), contact your loan servicer directly (the entity to which you make your mortgage payments). Find the contact information for all our loan servicers here.

How do I get a payoff statement for a 2nd mortgage?

FAQ Categories: Homeowner FAQs, Lender FAQs

Published on: November 27, 2023

The Commission cannot provide payoff statements. Contact the borrower’s first-mortgage loan servicer directly for a payoff statement for both the first and the second mortgage loan, as they service both. Find the contact information for all our loan servicers here.

If you are still unable to receive a payoff from the servicer, please contact the Commission.

I have a WSHFC downpayment assistance loan. What happens if I want to refinance my home?

FAQ Categories: Downpayment Assistance

Published on: May 20, 2023

If you refinance, you will need to pay off the WSHFC downpayment assistance loan (the second mortgage). The Commission does not subordinate our loans to other loans. In order to request a DPA loan payoff, please contact the loan servicer of your main home mortgage. The loan servicer is the entity to which you make your loan payments. Visit our Payoff Request page to learn more and find the contact information for all our loan servicers.

Existing-Lender

Published on: March 14, 2023

Loan Officers, employed by a Commission-approved participating lender, train with our programs to assist homebuyers to qualify for more home using programs offered at the Commission, including our first mortgage programs and downpayment assistance programs. The Commission’s programs can help you increase your loan production serving more customers and your community.

Lender-Central

Published on: March 10, 2023

Are you interested in becoming a Commission lending partner? If so, this is the place to start! To originate our loans and teach Homebuyer Education Classes, you must be employed by a Commission-approved participating lender and attend both days of our Initial Training for Homeownership Professionals.

Payoff-Request

Published on: March 7, 2023

When you refinance your home or want to pay off your mortgage early, you will need to submit a payoff request to your loan servicer (the entity to which you make your mortgage payment.)

Homeowners