Code of Maine Rules
99 - INDEPENDENT AGENCIES
346 - MAINE STATE HOUSING AUTHORITY
Chapter 30 - SINGLE FAMILY HOME IMPROVEMENT LOAN PROGRAMS
Section 346-30-8 - Amortizing Debt
Universal Citation: 99 ME Code Rules ยง 346-30-8
Current through 2024-38, September 18, 2024
When MSHA financing includes amortizing debt payable to MSHA, the financing shall be subject to the following:
A. Underwriting Standards. Program Guides shall set forth underwriting criteria which may include, without limitation, debt to income ratios, credit history, assets, and employment stability.
B. Appraisals. MSHA may require an appraisal in a form satisfactory to MSHA to determine whether there is adequate value in a Project and may require Applicants to reimburse MSHA for appraisal costs.
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