GOLD Freddie Series 2019/2020 Program

Product Manual 

• GOLD FREDDIE Notice

Product Limits 

• GOLD FREDDIE 80 Percent Income & Purchase Price Limits - NEW Income Effective 6/30/2020 & Purchase Price Effective 7/15/2020!

CODE COMPLIANCE DOCUMENTS

  RESERVATION DOCUMENTS

     Lender to print Loan Confirmation upon reservation.
     OHFA to provide Lender's Review Certification upon reservation.
 

  CERTIFICATION & APPROVAL DOCUMENTS

     Lender submits the following documents to OHFA at ohfasinglefamily@ohfa.org for certification: 

• Loan Confirmation
• Executed Lender's Review Certification
• 1008 (qualifying income)
• 1003 (Application)
• VOR or Credit Report (three years reporting required for Non-Targeted residence/mortgagors)
• Loan Estimate
• Purchase Contract

     OHFA provides these documents to Lender upon Loan Approval:

• OHFA Approval/Award Letter
• OHFA Down Payment Assistance Letter
• MRB Disclosure
• Mortgagor Closing Certification
  
  

CLOSING DOCUMENTS

     Lender completes the following documents prior to Closing for mortgagor(s) to sign: 

• Mortgagor Affidavit & Certification - Part 5 (Re-Affirmation of Mortgagor)
• Notice of Potential Recapture Tax - Part II
• Recapture Tax 101
• Tax-Exempt Financing Rider (Conventional)
• Mortgagor Closing Certification (sent to lender at approval)

     Lender to provide the following documents to OHFA within 5 days after loan closing:

• Copy of executed Closing Disclosure
• Copy of executed OHFA Down Payment Assistance Letter
• Copy of executed Mortgagor Closing Certification