*LCDF funds a limited number of new loans per month*

 

 

• The 1st lien mortgage lender representative (LO) needs to review the LCDF Checklist under the resource tab. 

 

• LO is responsible for pre-qualifying the applicant using the LCDF underwriting guidelines for the First Time Homebuyer DPA mortgage loan program.

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• LO can start the application process by applying online.

 

• Once the application is complete( required documents uploaded) and signed , LCDF will review and determine eligibility within 3 business days.

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• There will be a 14-day waiting period between the approval date and the closing date.

 

• The borrower is required to obtain a Homebuyer Education Training Certificate.

 

• Acceptable classes are listed under the resource tab.

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• Applicants should contact the provider directly to sign up.

 

• All additional required documents must be received by LCDF 5 days prior to the closing date.

 

• LCDF must be notified of the closing date 3 days prior to ensure the processing time of funds.

 

• LCDF will email all closing docs to the attorney and deliver the funds via certified check.

 

• Closing attorney to return all closing docs to LCDF.