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CALIFORNIA HOUSING FINANCE AGENCYConventional Loan ProgramsLAST REVISED: MARCH 2, 2020CONVENTIONAL LOAN Programmable of Contents. Eligibility 1 a.b.c.d.e. Borrower RequirementsHomebuyer EducationFirstTime
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The loan program type refers to the specific classification or category of a loan, which may include various types of financing such as personal loans, mortgage loans, student loans, or business loans, each with distinct features and terms.
Borrowers who engage in financing under specific loan programs are required to file the loan program type, particularly when applying for federally backed loans or specific lending programs.
To fill out the loan program type, applicants should gather necessary documentation, understand the specific requirements of the loan program, and accurately provide details regarding their financial situation, intended use of funds, and personal identification information on the application form.
The purpose of the loan program type is to categorize loans for regulatory compliance, facilitate the lending process, and help both lenders and borrowers understand the terms, benefits, and limitations associated with different types of loans.
Information that must be reported includes borrower identification, details of the loan program (such as interest rates, loan amounts, and repayment terms), and relevant financial information of the borrower.
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