The amount of escrow funds that must be accumalated before an interim disbursement may be disbursed.
What is $500?
100
Two main goals that someone must complete to graduate from the FSS program.
What is Employment and TANF not received in the past 12 months?
100
The initial length of time for the FSS Contract Of Participation.
What is Five Years?
100
Money to show good faith when a contract of sale is completed.
What is earnest money?
100
The mininum credit score accepted. (If applicants have one)
What is 620 or higher?
200
The maximun frequency of times an FSS participant is allowed to use escrow funds before graduation.
What is annually?
200
Disabled tenants are not allowed in the FSS program. True or False?
What is false?
200
The maximun amount of time of a FSS contract.
What is Seven Years?
200
Class that is required before closing on a home
What is pre-purchase counseling?
200
The amount of money that buyer must pay toward the home at or before closing.
What is $1,000 or 1% whichever is greater?
300
The type of escrow credit that is based on a rate of return.
What is interest?
300
Homeownership must be a participants goal? True or False
What is False?
300
The minimum amount of time on the program before a participate can graduate from the FSS program.
What is none? All goals must be completed and can be at anytime before five year contract ends.
300
Required class after purchasing a home
What is post-purchase counseling?
300
Legnth of time in the HCV program before becoming eligible
What is one year?
400
The type of income that must be counted for escrow to increase.
What is Earned Income?
400
At what time may a RA Specialist make a FSS referral
What is at any time?
400
Tenant must pay in order to have their escrow credited to their account.
What is rent?
400
Lender that THDA must use for the Homeownership Program.
What is any lender that will accept two payments? One check paid by the homeowner and one by THDA. Want a lender to not sell the loan so because a new bank may not accept two payments.
400
The minimum amount of income required for the homeownership voucher program.
What is $15,000?
500
Monies that are credited each month when earned income increases.
What is an Escrow Account?
500
The amount of FSS participants that are required by the FSS grant for five positions.
What is 225?
500
Portable that we will not allow into our FSS program.
What is incoming billing portable?
500
Type of property that someone can not purchase in the HVP.
What is a duplex? All of unit must be owner occupied. Can not live in one side and rent out the other. Can purchase a zero lot line and purchase one unit.
500
Type of families excluded from the 30 hours average work per week requirement.