Information for Single-Family Lending and Real Estate Professionals
Program Announcement

July 26, 2019
Lock Policy Reminder

As interest rates are on a downward trend, the Commission would like to remind all lenders of our lock (reservation) policy which can be found in Section 7 of the Program Manual.

Our lock policy has not changed.

A reservation cannot be cancelled and re-reserved to obtain a lower interest rate or to transfer to a House Key loan.

If a borrower is switching lenders the original lock terms will still apply.

A loan may be reserved once the borrower(s) has demonstrated completion of a Commission sponsored homebuyer education seminar, has a fully executed purchase and sale agreement, has made loan application with a Commission trained loan officer and appears to meet Program compliance.

Changes to a loan reservation can be made by completing and submitting the “Reservation Change Request” form found on our website. Changes can be made for the following reasons:

- Increasing or decreasing the loan amount
- Increasing or decreasing the purchase price
- Adding or deleting a borrower
- Changing the amount of Downpayment Assistance
- Switching from Home Advantage Gov't to Home Advantage Conventional or vice versa

Please see Section 7 for complete details.

If you have additional questions, please email


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