Frequently Asked Questions - Realtors & Lenders
Do you have a direct purchase program where investors can buy bonds directly from you
No
There is not an additional 60 days added to the processing of the loan for an MFA product. Typically you can expect to add an additional week if not less to the processing of the loan. Please give MFA a call so that we can determine the situation with the lender.
MFA does not require the lenders to audit the loans that have been purchased by MFA.
The maximum debt to income ratio is determined by FHA, VA or Fannie Mae. The loan needs to obtain underwriter approval - MFA does not grant any exceptions.
Yes. Condominiums can be purchased with MFA funds.
As long as the home is in the state, there are no restrictions on the area where you purchase (rural or not).
Yes, as long as they are permanently attached to the foundation.
Compliance:
1st - 20th: Maximum of 3 days
21st - End of Month: Maximum of 5 days
Purchase:
12 business days.
Yes, as long as co-signer does not occupy the property.
