What types of properties are eligible for purchase with REI DPA using a Fannie Mae HFA Preferred loan?

  •  1 ‐2 Units
  • Condos and Townhomes – Condos must be approved by US Bank Home Mortgage HFA Division
  • Manufactured Housing is NOT permitted

Refer to the US Bank HFA Lending Guide 800: Condominium Project Review Sections 810 and 811 for all U.S. Bank condo requirements.

For properties located in a flood zone requiring flood insurance, the outstanding 2nd mortgage lien must be included in
the flood insurance coverage calculations.

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