4501.5: Temporary subsidy buydown plans for Home Possible® Mortgage (03/02/16)

Temporary subsidy buydown plans as described in Section 4204.4 are permitted for Home Possible® Mortgages secured by 1- to 2-unit properties, other than Manufactured Homes. If a Home Possible Mortgage with a temporary subsidy buydown plan is subject to secondary financing, including an Affordable Second® that requires repayment to begin before the Due Date of the 61st monthly payment under the Home Possible Mortgage, the secondary financing must have a fixed-interest rate.