Regulation .06 Loan Purposes.
Regulation .06 Loan Purposes.LinkCopy Citation
A loan may be used to pay up to 100 percent of the following types of settlement expenses:
A.
Fees or premiums for title examination, title insurance, or similar expenses;
B.
Fees for preparation of a deed, settlement statement, or other documents;
C.
Payments owed at the time of settlement for property taxes or hazard insurance coverage;
D.
Escrows for future payments of taxes and hazard insurance;
E.
Fees for notarizing deeds and other documents;
F.
Appraisal fees;
G.
Fees for credit reports;
H.
Transfer and recordation taxes and fees;
I.
Fees or premiums for mortgage insurance;
J.
Loan discount points and origination fees;
K.
Down payments;
L.
Up to 30 days' worth of prepaid interest;
M.
Home inspection fee; and
N.
Other settlement expenses as may be approved by the Program before the loan closing.