Please read the following companion documents before proceeding:
HFHM Standard Note 2011 Guidance
HFHM Standard Mortgage 2011 Guidance
Habitat for Humanity affiliates utilizing the Down Payment Assistance Grant Program (DPA) (or other HOME Funds) are required to use the following standardized mortgage documents:
HFHM Standard Note 2011 with Principal Reduction
HFHM Standard Mortgage 2011 with Principal Reduction
** As of January 1, 2012, the mortgage documents used for the Down Payment Assistance Grant Program have changed. A 2nd lien document will now be generated by MSHDA and forwarded to the affiliate after the DPA packet has been approved. Please watch for more information as it becomes available.
Affiliates should use the following mortgage documents for conventional Habitat projects not involving HOME dollars:
HFHM Standard Note 2011 No Principal Reduction
HFHM Standard Mortgage 2011 No Principal Reduction
If an affiliate is using the USDA Rural Development 502 Direct Program with MSHDA down payment assistance, the following documents must be used in addition to those provided in the program:
Rural Development 502 Direct Program MSHDA DPA Closing Documents