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Exhibit L MAP RECAPTURE WORKSHEET A. MAP LOAN AMOUNT B. Determine Mortgagors Investment 1) 2) 3) 4) 5) C. $ Mortgagor's Down payment: Plus Capital Improvements made to the Residence: Plus Principal
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How to fill out sonyma - map recapture
How to fill out SONYMA – MAP recapture:
01
Gather the necessary documents: Before starting the application process for SONYMA - MAP recapture, make sure you have all the required documents handy. This may include identification documents, income proof, bank statements, and any other relevant paperwork.
02
Fill out the application form: The application form for SONYMA - MAP recapture can usually be found on the official SONYMA website or obtained from a participating lender. Carefully read and fill out the form, providing accurate information as requested.
03
Provide income verification: As part of the SONYMA - MAP recapture process, you will need to provide proof of your income. This can be in the form of pay stubs, tax returns, or any other relevant documentation that demonstrates your ability to repay the recapture loan.
04
Submit the application: Once you have completed the application form and gathered all the required documents, submit your application to the appropriate address or through the designated online portal. Ensure that you have included all the necessary paperwork and double-check for any errors or missing information.
Who needs SONYMA - MAP recapture?
01
First-time homebuyers: SONYMA - MAP recapture is specifically designed for first-time homebuyers who are looking to purchase a home but may not have sufficient funds for a down payment.
02
Individuals with moderate income: SONYMA - MAP recapture is targeted towards individuals or families with moderate incomes who may find it challenging to save enough money for a down payment on a home.
03
New York State residents: SONYMA - MAP recapture is available to residents of New York State who are seeking affordable housing options and assistance with their home purchases.
Note: It is always advisable to consult with a SONYMA-approved lender or housing counselor for specific information regarding your eligibility and the application process for SONYMA - MAP recapture.
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What is sonyma - map recapture?
SONYMA - MAP recapture is a program that allows SONYMA to recapture a portion of the subsidy provided to borrowers who sell their homes within a certain period of time.
Who is required to file sonyma - map recapture?
Borrowers who received SONYMA financing and are selling their homes within a certain timeframe are required to file SONYMA - MAP recapture.
How to fill out sonyma - map recapture?
The SONYMA - MAP recapture form can be filled out online or submitted via mail. Borrowers need to provide information on the sales transaction and any subsidies received.
What is the purpose of sonyma - map recapture?
The purpose of SONYMA - MAP recapture is to recapture a portion of the subsidy provided to borrowers in order to use those funds for other affordable housing initiatives.
What information must be reported on sonyma - map recapture?
Borrowers must report details of the sales transaction, including the sales price, any subsidies received, and the amount of recapture owed.
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