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31 Cards in this Set
- Front
- Back
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MSHDA
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Michigan State Housing Developement Authority
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EAH
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Employer Assisted Housing Program (DPA)
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HCP
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Home Choice Program
(DPA) low to moderate income for families with disabilities |
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DPA
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Down Payment Assistance
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HC M - DPA
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Home Choice Mortgage- Down Payment Assistance
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HELP Loan
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Home Emergency Loan Program
MSHDA mortgage- one time assistance for temporary difficulty to make payment |
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GPA
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Graduate Purchase Assistance-
in cities of promise |
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MRB
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Mortgage Revenue bond
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MCC
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Mortgage Credit Certificate
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MAGI
AGI |
Modified Adjusted Gross Income
Adjusted Gross Income |
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DU
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Desktop Underwriter
analyzes loan application (approval/eligible) |
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SSA
RASS |
Short Sale Agreement
Request for Approval of a Short Sale |
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IDA
MIDAP |
Individual Development Account
savings account (<200% poverty) economic literacy course and traing related to their asset goal save $ over 6- 36 months Michigan IDA Partnership matching funds |
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DTI ratio
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Debt to Income ratio=
monthly debt/GMI |
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MTI ratio
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Mortgage to Income ratio=
mort payment/GMI |
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PPCR
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Pre Purchase Credit Repair
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FSS
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Family Self-Sufficiency
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FIP
SSI ($) SDA ($) |
Family Independence Program
Supplemental Security Income State Disability Assistance |
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LTV
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Loan to Value=
loan amt./monthly payment loan amt. to percentage of value of home |
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HAMP
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Home Affordable Modification Program
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HARP
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Home Affordable Refinance Program
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GFE
|
Good Faith Estimate
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TIL
(APR) |
Truth In Lending
estimates the charges in the loan, the finance charges and the Annual Percentage Rate |
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HUD
|
US Department of Housing and Urban Development
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NFMC
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National Foreclosure Mitigation Counseling
neighborhood works America |
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FHA
|
Federal Housing Administration
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CRA
|
Community Reinvestment Act
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AMI
|
Area Median Income
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FDIC
|
Federal Deposit Incurance Corporation
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ECOA
|
Equal Credit Opportunity Act
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NSP
|
Neigborhood Stabilization Program
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